B. Riley Wealth Advisors Inc. Acquires New Holdings in Shopify Inc. $SHOP

B. Riley Wealth Advisors Inc. bought a new stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,382 shares of the software maker’s stock, valued at approximately $967,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Family Legacy Financial Solutions LLC acquired a new stake in shares of Shopify during the second quarter worth approximately $25,000. Rothschild Investment LLC lifted its position in Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after buying an additional 75 shares in the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of Shopify during the 2nd quarter valued at $27,000. Tradewinds Capital Management LLC grew its holdings in shares of Shopify by 71.4% during the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Finally, Coastline Trust Co acquired a new position in shares of Shopify in the second quarter worth $29,000. 69.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Shopify from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. DZ Bank raised Shopify from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. TD Cowen reissued a “hold” rating and issued a $156.00 price objective on shares of Shopify in a research note on Friday, October 3rd. BNP Paribas initiated coverage on Shopify in a report on Monday, November 24th. They issued a “neutral” rating for the company. Finally, Stifel Nicolaus set a $175.00 price target on Shopify in a report on Tuesday, November 4th. Twenty-two equities research analysts have rated the stock with a Buy rating and twenty-three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $166.53.

Shopify Stock Performance

SHOP opened at $159.85 on Tuesday. The firm’s fifty day moving average is $159.51 and its two-hundred day moving average is $140.39. The firm has a market cap of $208.10 billion, a PE ratio of 118.41, a price-to-earnings-growth ratio of 6.10 and a beta of 2.82. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. Equities analysts forecast that Shopify Inc. will post 1.12 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.