Blake Schutter Theil Wealth Advisors LLC Acquires Shares of 2,602 Shopify Inc. (NYSE:SHOP)

Blake Schutter Theil Wealth Advisors LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,602 shares of the software maker’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. GQG Partners LLC raised its holdings in shares of Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after buying an additional 13,885,473 shares in the last quarter. Capital World Investors raised its stake in Shopify by 26.2% during the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after acquiring an additional 10,340,040 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Shopify by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after acquiring an additional 5,982,434 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Shopify by 49.9% in the 2nd quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after purchasing an additional 2,102,939 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of Shopify by 214.5% during the 1st quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock valued at $224,492,000 after purchasing an additional 1,983,996 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the subject of several research reports. Evercore increased their price objective on shares of Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. Loop Capital raised their price objective on Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Evercore ISI boosted their price objective on Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Robert W. Baird increased their target price on Shopify from $79.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Finally, Barclays boosted their price target on Shopify from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.03.

Shopify Stock Up 4.5 %

Shares of NYSE SHOP opened at $85.62 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The company has a 50-day moving average price of $77.90 and a 200-day moving average price of $69.61. The stock has a market capitalization of $110.48 billion, a P/E ratio of 87.36, a P/E/G ratio of 2.62 and a beta of 2.36. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the business earned ($0.08) EPS. The company’s quarterly revenue was up 20.7% on a year-over-year basis. On average, equities research analysts forecast that Shopify Inc. will post 0.76 EPS for the current fiscal year.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.