Janney Montgomery Scott LLC Grows Holdings in Shopify Inc. (NYSE:SHOP)

Janney Montgomery Scott LLC raised its position in Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 45.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 147,808 shares of the software maker’s stock after buying an additional 46,413 shares during the period. Janney Montgomery Scott LLC’s holdings in Shopify were worth $11,406,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SHOP. Private Wealth Management Group LLC acquired a new position in Shopify during the 4th quarter worth $26,000. SJS Investment Consulting Inc. grew its stake in Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares in the last quarter. DSM Capital Partners LLC acquired a new stake in Shopify during the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp bought a new position in Shopify during the 4th quarter worth approximately $28,000. Finally, Your Advocates Ltd. LLP lifted its holdings in Shopify by 4,344.4% during the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after buying an additional 391 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Up 1.3 %

Shares of NYSE:SHOP opened at $67.63 on Monday. The business has a fifty day moving average of $63.66 and a 200-day moving average of $72.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last announced its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Analysts forecast that Shopify Inc. will post 0.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective on Shopify from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Piper Sandler raised Shopify from an “underweight” rating to a “neutral” rating and set a $63.00 target price for the company in a research note on Thursday, May 9th. The Goldman Sachs Group boosted their price target on shares of Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. TD Securities reduced their price objective on Shopify from $80.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Finally, Royal Bank of Canada dropped their target price on Shopify from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average price target of $76.42.

Read Our Latest Research Report on SHOP

Shopify Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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