Good Life Advisors LLC Buys 445 Shares of Shopify Inc. (NYSE:SHOP)

Good Life Advisors LLC lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,844 shares of the software maker’s stock after purchasing an additional 445 shares during the quarter. Good Life Advisors LLC’s holdings in Shopify were worth $1,702,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. SJS Investment Consulting Inc. increased its stake in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares during the period. PCA Investment Advisory Services Inc. purchased a new position in shares of Shopify in the 2nd quarter worth approximately $27,000. Activest Wealth Management purchased a new position in Shopify in the third quarter valued at approximately $33,000. Baldwin Brothers LLC MA raised its holdings in Shopify by 49.0% during the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after acquiring an additional 147 shares during the period. Finally, Global Trust Asset Management LLC raised its position in shares of Shopify by 350.0% in the fourth quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock worth $35,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of NYSE:SHOP traded down $1.45 on Thursday, reaching $77.17. The company’s stock had a trading volume of 4,165,133 shares, compared to its average volume of 9,805,144. The stock has a market capitalization of $99.28 billion, a P/E ratio of 873.87 and a beta of 2.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The stock’s 50-day moving average is $79.36 and its two-hundred day moving average is $69.98. Shopify Inc. has a 52-week low of $43.50 and a 52-week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. As a group, sell-side analysts forecast that Shopify Inc. will post 0.57 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on SHOP. Roth Capital lifted their target price on shares of Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Piper Sandler increased their price objective on shares of Shopify from $56.00 to $63.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 target price on shares of Shopify in a research report on Wednesday, February 14th. Atb Cap Markets cut shares of Shopify from an “outperform” rating to a “sector perform” rating in a report on Wednesday, December 6th. Finally, JMP Securities restated a “market perform” rating on shares of Shopify in a report on Monday, December 18th. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $76.42.

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.