Signaturefd LLC Has $4.21 Million Position in Shopify Inc. (NYSE:SHOP)

Signaturefd LLC grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,489 shares of the software maker’s stock after purchasing an additional 3,597 shares during the quarter. Signaturefd LLC’s holdings in Shopify were worth $4,206,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its holdings in shares of Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after buying an additional 129 shares in the last quarter. CVA Family Office LLC lifted its holdings in Shopify by 11.8% during the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after purchasing an additional 143 shares during the last quarter. Willis Johnson & Associates Inc. increased its stake in Shopify by 5.8% during the 1st quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock worth $211,000 after acquiring an additional 149 shares during the period. Valley National Advisers Inc. increased its stake in Shopify by 11.4% during the 1st quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock worth $114,000 after acquiring an additional 152 shares during the period. Finally, Wolff Wiese Magana LLC increased its stake in Shopify by 5.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 2,974 shares of the software maker’s stock worth $238,000 after acquiring an additional 152 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

SHOP traded down $0.96 on Tuesday, reaching $81.70. 1,753,442 shares of the stock were exchanged, compared to its average volume of 9,234,670. The company’s 50-day moving average price is $76.54 and its 200 day moving average price is $68.88. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The firm has a market capitalization of $105.29 billion, a PE ratio of 84.34, a PEG ratio of 2.77 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. Shopify’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. As a group, sell-side analysts forecast that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on SHOP. Citigroup lifted their target price on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Robert W. Baird boosted their target price on Shopify from $79.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. KeyCorp began coverage on Shopify in a research note on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price objective for the company. Wells Fargo & Company increased their price target on Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Finally, DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.36.

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, 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.