Pachira Investments Inc. Has $224,000 Stock Holdings in Shopify Inc. (NYSE:SHOP)

Pachira Investments Inc. lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.6% during the third quarter, HoldingsChannel.com reports. The fund owned 165 shares of the software maker’s stock after purchasing an additional 13 shares during the period. Shopify makes up approximately 0.2% of Pachira Investments Inc.’s investment portfolio, making the stock its 29th biggest holding. Pachira Investments Inc.’s holdings in Shopify were worth $224,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of Shopify by 2.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,851,069 shares of the software maker’s stock valued at $4,165,776,000 after acquiring an additional 79,031 shares during the period. Envestnet Asset Management Inc. boosted its stake in Shopify by 2.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 108,486 shares of the software maker’s stock worth $158,495,000 after purchasing an additional 2,412 shares during the period. Moors & Cabot Inc. boosted its stake in Shopify by 5.8% in the 2nd quarter. Moors & Cabot Inc. now owns 1,492 shares of the software maker’s stock worth $2,180,000 after purchasing an additional 82 shares during the period. Guardian Capital LP boosted its stake in Shopify by 3.3% in the 2nd quarter. Guardian Capital LP now owns 77,341 shares of the software maker’s stock worth $113,227,000 after purchasing an additional 2,445 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Shopify by 54.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 20,510 shares of the software maker’s stock worth $29,965,000 after purchasing an additional 7,233 shares during the period. Institutional investors and hedge funds own 59.83% of the company’s stock.

A number of brokerages recently weighed in on SHOP. Roth Capital upped their target price on shares of Shopify from $1,750.00 to $1,800.00 and gave the stock a “buy” rating in a research note on Thursday, July 29th. Loop Capital cut shares of Shopify from a “buy” rating to a “hold” rating and set a $1,600.00 price target on the stock. in a research report on Monday, November 15th. They noted that the move was a valuation call. Jefferies Financial Group boosted their price target on shares of Shopify from $1,675.00 to $1,800.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Oppenheimer boosted their price target on shares of Shopify from $1,500.00 to $1,700.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Finally, TD Securities assumed coverage on Shopify in a research report on Thursday, October 14th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Shopify presently has an average rating of “Buy” and an average price target of $1,621.78.

Shares of SHOP stock traded up $55.64 on Thursday, hitting $1,628.70. The company had a trading volume of 969,961 shares, compared to its average volume of 1,240,506. The firm has a market cap of $203.20 billion, a P/E ratio of 60.70, a P/E/G ratio of 11.53 and a beta of 1.45. The stock’s 50-day moving average is $1,473.08 and its two-hundred day moving average is $1,436.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 13.97 and a current ratio of 13.97. Shopify Inc. has a twelve month low of $975.00 and a twelve month high of $1,762.92.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Thursday, October 28th. The software maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.34. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Shopify had a return on equity of 5.63% and a net margin of 81.00%. The business’s quarterly revenue was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Equities research analysts predict that Shopify Inc. will post 4.01 EPS for the current year.

Shopify Profile

Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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