Evolution Wealth Advisors LLC Makes New Investment in Shopify Inc. (NYSE:SHOP)

Evolution Wealth Advisors LLC acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,810 shares of the software maker’s stock, valued at approximately $219,000.

Several other institutional investors have also added to or reduced their stakes in SHOP. SJS Investment Consulting Inc. raised its holdings in Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares in the last quarter. PCA Investment Advisory Services Inc. bought a new position in Shopify in the 2nd quarter worth $27,000. Baldwin Brothers LLC MA raised its holdings in Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after purchasing an additional 147 shares in the last quarter. Global Trust Asset Management LLC increased its stake in shares of Shopify by 350.0% in the 4th quarter. Global Trust Asset Management LLC now owns 450 shares of the software maker’s stock worth $35,000 after acquiring an additional 350 shares in the last quarter. Finally, Vestor Capital LLC bought a new position in shares of Shopify in the 2nd quarter worth about $35,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SHOP has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of Shopify in a research note on Wednesday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a research note on Tuesday. UBS Group increased their price target on shares of Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Barclays decreased their price target on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 14th. Finally, National Bankshares increased their price objective on shares of Shopify from $80.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Shopify currently has an average rating of “Hold” and a consensus price target of $78.30.

Shopify Stock Performance

Shares of NYSE:SHOP traded up $0.19 during trading on Friday, hitting $69.70. The company’s stock had a trading volume of 11,073,469 shares, compared to its average volume of 9,509,492. The company has a 50-day moving average of $76.35 and a 200-day moving average of $71.84. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. 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 firm has a market cap of $89.67 billion, a price-to-earnings ratio of 774.53 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. On average, sell-side analysts expect that Shopify Inc. will post 0.58 earnings per share for the current year.

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.