Guardian Wealth Advisors LLC NC Boosts Stock Position in Shopify Inc. (NYSE:SHOP)

Guardian Wealth Advisors LLC NC increased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 26.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,055 shares of the software maker’s stock after buying an additional 2,105 shares during the period. Guardian Wealth Advisors LLC NC’s holdings in Shopify were worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Solidarity Wealth LLC bought a new position in Shopify in the 1st quarter valued at approximately $294,000. Liontrust Investment Partners LLP lifted its position in Shopify by 42.5% in the 1st quarter. Liontrust Investment Partners LLP now owns 242,300 shares of the software maker’s stock valued at $11,604,000 after acquiring an additional 72,300 shares in the last quarter. Gladstone Institutional Advisory LLC bought a new position in Shopify in the 1st quarter valued at approximately $488,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Shopify by 7.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,535,000 shares of the software maker’s stock valued at $73,588,000 after acquiring an additional 100,000 shares in the last quarter. Finally, ICA Group Wealth Management LLC lifted its position in Shopify by 2.5% in the 1st quarter. ICA Group Wealth Management LLC now owns 10,370 shares of the software maker’s stock valued at $497,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 60.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SHOP. Oppenheimer increased their price target on Shopify from $70.00 to $80.00 in a report on Tuesday, June 20th. Canaccord Genuity Group raised Shopify from a “hold” rating to a “buy” rating and increased their price target for the company from $60.00 to $70.00 in a report on Thursday, August 31st. TD Securities increased their price target on Shopify from $60.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. CIBC set a $75.00 price target on Shopify and gave the company an “outperform” rating in a report on Wednesday, July 26th. Finally, Mizuho increased their price target on Shopify from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Shopify presently has an average rating of “Hold” and an average target price of $65.34.

Shopify Trading Down 2.7 %

Shares of Shopify stock opened at $63.01 on Monday. The firm has a market cap of $80.44 billion, a price-to-earnings ratio of -39.88 and a beta of 2.05. The business has a 50-day moving average price of $61.73 and a 200-day moving average price of $55.91. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.15. Shopify Inc. has a twelve month low of $23.63 and a twelve month high of $71.43.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 2nd. The software maker reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Shopify had a negative net margin of 32.13% and a negative return on equity of 5.36%. Equities research analysts anticipate that Shopify Inc. will post -0.1 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, 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.