3,030 Shares in Shopify Inc. (NYSE:SHOP) Acquired by CRA Financial Services LLC

CRA Financial Services LLC bought a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, Holdings Channel reports. The fund bought 3,030 shares of the software maker’s stock, valued at approximately $236,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Industrial Alliance Investment Management Inc. grew its holdings in Shopify by 292.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 110 shares of the software maker’s stock valued at $74,000 after buying an additional 82 shares in the last quarter. Turim 21 Investimentos Ltda. bought a new position in shares of Shopify during the 1st quarter valued at approximately $148,000. Fairfield Bush & CO. bought a new position in shares of Shopify during the 1st quarter valued at approximately $169,000. First Manhattan Co. boosted its position in shares of Shopify by 317.5% during the 1st quarter. First Manhattan Co. now owns 263 shares of the software maker’s stock valued at $177,000 after acquiring an additional 200 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its position in shares of Shopify by 508.2% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 298 shares of the software maker’s stock valued at $201,000 after acquiring an additional 249 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 0.2 %

NYSE SHOP traded up $0.16 during trading on Friday, hitting $69.67. The company’s stock had a trading volume of 11,077,726 shares, compared to its average volume of 6,822,657. 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 company has a market cap of $89.64 billion, a PE ratio of 774.20 and a beta of 2.22. The business’s 50 day simple moving average is $76.35 and its 200-day simple moving average is $71.98. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, equities analysts anticipate that Shopify Inc. will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

SHOP has been the subject of a number of research reports. Citigroup lowered their target price on Shopify from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, April 16th. Wells Fargo & Company lowered their target price on Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Jefferies Financial Group raised their price target on Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, January 5th. Finally, UBS Group raised their price target on Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $78.30.

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.