Lyell Wealth Management LP Buys 983 Shares of Shopify Inc. (NYSE:SHOP)

Lyell Wealth Management LP raised its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 157,184 shares of the software maker’s stock after buying an additional 983 shares during the quarter. Shopify comprises 1.1% of Lyell Wealth Management LP’s portfolio, making the stock its 26th biggest position. Lyell Wealth Management LP’s holdings in Shopify were worth $12,597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brookstone Capital Management raised its holdings in Shopify by 3.5% in the first quarter. Brookstone Capital Management now owns 7,646 shares of the software maker’s stock worth $590,000 after purchasing an additional 260 shares during the period. Wealthcare Advisory Partners LLC lifted its holdings in Shopify by 5.3% during the first quarter. Wealthcare Advisory Partners LLC now owns 4,340 shares of the software maker’s stock worth $335,000 after acquiring an additional 219 shares in the last quarter. MCF Advisors LLC lifted its holdings in Shopify by 15.2% during the first quarter. MCF Advisors LLC now owns 2,120 shares of the software maker’s stock worth $164,000 after acquiring an additional 280 shares in the last quarter. Winthrop Advisory Group LLC grew its stake in Shopify by 5.5% in the first quarter. Winthrop Advisory Group LLC now owns 4,785 shares of the software maker’s stock valued at $369,000 after acquiring an additional 250 shares during the period. Finally, Fiduciary Alliance LLC increased its holdings in shares of Shopify by 128.7% in the first quarter. Fiduciary Alliance LLC now owns 6,557 shares of the software maker’s stock worth $513,000 after acquiring an additional 3,690 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Trading Down 1.0 %

Shares of NYSE:SHOP opened at $79.05 on Friday. The business’s 50 day simple moving average is $77.04 and its 200 day simple moving average is $69.07. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The company has a market capitalization of $101.87 billion, a P/E ratio of -465.00, a P/E/G ratio of 2.73 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the business earned ($0.08) earnings per share. Shopify’s revenue was up 20.7% on a year-over-year basis. On average, research analysts anticipate that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SHOP. Roth Mkm boosted their price objective on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Wolfe Research started coverage on shares of Shopify in a report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 price target for the company. Truist Financial dropped their price objective on shares of Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. UBS Group upped their target price on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Loop Capital increased their target price on Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.21.

About Shopify

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.