Ameritas Advisory Services LLC Has $1.02 Million Holdings in Shopify Inc. $SHOP

Ameritas Advisory Services LLC lifted its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 74.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 8,851 shares of the software maker’s stock after buying an additional 3,769 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Shopify were worth $1,021,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SHOP. Brighton Jones LLC raised its holdings in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after buying an additional 584 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Shopify by 17,086.4% in the 1st quarter. GAMMA Investing LLC now owns 91,947 shares of the software maker’s stock worth $8,779,000 after buying an additional 91,412 shares in the last quarter. Signal Advisors Wealth LLC increased its holdings in Shopify by 7.8% during the 1st quarter. Signal Advisors Wealth LLC now owns 13,898 shares of the software maker’s stock valued at $1,325,000 after purchasing an additional 1,011 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in Shopify by 11.3% during the 1st quarter. SeaCrest Wealth Management LLC now owns 4,820 shares of the software maker’s stock valued at $460,000 after purchasing an additional 488 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. increased its holdings in Shopify by 2.2% during the 1st quarter. StoneCrest Wealth Management Inc. now owns 11,064 shares of the software maker’s stock valued at $1,056,000 after purchasing an additional 239 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

SHOP opened at $161.14 on Friday. The business’s 50-day moving average price is $142.78 and its two-hundred day moving average price is $117.23. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $162.60. The company has a market capitalization of $209.43 billion, a price-to-earnings ratio of 90.02, a P/E/G ratio of 7.64 and a beta of 2.72.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the business posted $0.26 EPS. The company’s revenue for the quarter was up 31.1% on a year-over-year basis. Sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of recent analyst reports. ATB Capital cut Shopify to a “sector perform” rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shopify in a report on Saturday, September 27th. Scotiabank reaffirmed a “sector perform” rating and set a $150.00 price target (up from $115.00) on shares of Shopify in a report on Thursday, August 7th. KeyCorp reaffirmed an “overweight” rating and set a $175.00 price target (up from $145.00) on shares of Shopify in a report on Thursday, August 7th. Finally, Canaccord Genuity Group raised their price target on Shopify from $115.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Twenty-two research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $150.59.

Shopify Company 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.