HM Payson & Co. Acquires 186 Shares of Shopify Inc. (NYSE:SHOP)

HM Payson & Co. raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 37.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 686 shares of the software maker’s stock after acquiring an additional 186 shares during the period. HM Payson & Co.’s holdings in Shopify were worth $55,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Cultivar Capital Inc. bought a new stake in shares of Shopify during the second quarter worth about $33,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Shopify in the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Shopify in the second quarter valued at approximately $39,000. Finally, GAMMA Investing LLC boosted its position in Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on SHOP shares. Piper Sandler restated a “neutral” rating and issued a $67.00 price target on shares of Shopify in a research report on Thursday, August 29th. Royal Bank of Canada raised their target price on Shopify from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wedbush reiterated a “neutral” rating and issued a $72.00 price target (up previously from $68.00) on shares of Shopify in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Benchmark reiterated a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. One equities 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.03.

Shopify Trading Up 1.0 %

NYSE:SHOP opened at $78.99 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. Shopify Inc. has a one year low of $48.56 and a one year high of $91.57. The company has a market cap of $101.93 billion, a PE ratio of 80.60, a PEG ratio of 2.62 and a beta of 2.36. The firm has a 50-day moving average of $77.54 and a 200-day moving average of $69.39.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping 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 firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the company posted ($0.08) EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, equities research analysts expect that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Shopify Profile

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.