Ethic Inc. Raises Stock Holdings in Shopify Inc. $SHOP

Ethic Inc. increased its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 294.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,971 shares of the software maker’s stock after acquiring an additional 5,948 shares during the quarter. Ethic Inc.’s holdings in Shopify were worth $1,185,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Heartwood Wealth Advisors LLC purchased a new position in shares of Shopify in the 3rd quarter worth about $27,000. Family Legacy Financial Solutions LLC purchased a new stake in Shopify during the second quarter worth about $25,000. Rothschild Investment LLC raised its position in Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after acquiring an additional 75 shares during the period. Financial Gravity Companies Inc. purchased a new position in Shopify in the second quarter valued at about $27,000. Finally, Tradewinds Capital Management LLC boosted its stake in Shopify by 71.4% in the second 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 during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SHOP. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shopify in a report on Monday. UBS Group set a $195.00 target price on Shopify in a research report on Wednesday, December 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $181.00 price target (up previously from $156.00) on shares of Shopify in a research report on Wednesday, November 5th. Wedbush reissued an “outperform” rating and issued a $185.00 price objective (up previously from $160.00) on shares of Shopify in a report on Tuesday, November 4th. Finally, Stifel Nicolaus set a $175.00 price objective on shares of Shopify in a report on Tuesday, November 4th. Twenty-two investment analysts have rated the stock with a Buy rating and twenty-three have given a Hold rating to the stock. According to MarketBeat.com, Shopify currently has an average rating of “Hold” and a consensus price target of $168.69.

Shopify Stock Down 2.3%

Shares of NASDAQ SHOP opened at $157.20 on Friday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The business has a 50-day simple moving average of $160.94 and a two-hundred day simple moving average of $145.59. The company has a market cap of $204.65 billion, a P/E ratio of 116.44, a P/E/G ratio of 4.78 and a beta of 2.82.

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

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.