Kovack Advisors Inc. Acquires 3,889 Shares of Shopify Inc. (NYSE:SHOP)

Kovack Advisors Inc. grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 72.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,222 shares of the software maker’s stock after acquiring an additional 3,889 shares during the quarter. Kovack Advisors Inc.’s holdings in Shopify were worth $739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SHOP. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Cultivar Capital Inc. bought a new position in shares of Shopify during the 2nd quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Shopify during the 2nd quarter worth approximately $33,000. Rosenberg Matthew Hamilton raised its holdings in shares of Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Shopify in the second quarter valued at approximately $39,000. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 5.7 %

SHOP stock opened at $115.13 on Thursday. The company has a market capitalization of $148.56 billion, a PE ratio of 107.60, a price-to-earnings-growth ratio of 3.64 and a beta of 2.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. Shopify Inc. has a one year low of $48.56 and a one year high of $115.62. The company’s 50 day moving average price is $79.47 and its two-hundred day moving average price is $70.18.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. Shopify had a net margin of 16.84% and a return on equity of 11.94%. As a group, analysts predict that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of recent research reports. UBS Group raised their target price on Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Oppenheimer lifted their price objective on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday. Roth Mkm upped their price objective on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Wells Fargo & Company increased their target price on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wedbush reissued a “neutral” rating and issued a $115.00 price target (up previously from $72.00) on shares of Shopify in a research report on Tuesday. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $94.95.

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.