Fifth Third Wealth Advisors LLC Has $490,000 Stock Position in Shopify Inc. $SHOP

Fifth Third Wealth Advisors LLC boosted its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,244 shares of the software maker’s stock after purchasing an additional 284 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Shopify were worth $490,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Shopify by 171.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock valued at $48,827,000 after purchasing an additional 267,271 shares during the last quarter. Worth Asset Management LLC acquired a new position in Shopify during the 2nd quarter valued at $236,000. Avior Wealth Management LLC raised its stake in Shopify by 32.6% during the 2nd quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker’s stock valued at $1,570,000 after purchasing an additional 3,347 shares during the last quarter. 111 Capital acquired a new position in Shopify during the 2nd quarter valued at $1,719,000. Finally, Integrity Alliance LLC. acquired a new position in Shopify during the 1st quarter valued at $211,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

SHOP opened at $151.02 on Monday. The firm’s 50-day simple moving average is $146.61 and its 200-day simple moving average is $119.28. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $169.69. The firm has a market cap of $196.27 billion, a price-to-earnings ratio of 84.37, a PEG ratio of 7.07 and a beta of 2.72.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. The firm’s quarterly revenue was up 31.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several research analyst reports. JMP Securities upped their target price on shares of Shopify from $135.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. TD Securities boosted their price target on shares of Shopify from $130.00 to $156.00 and gave the company a “hold” rating in a report on Friday, October 3rd. Needham & Company LLC began coverage on shares of Shopify in a report on Monday, July 14th. They issued a “buy” rating and a $135.00 price target on the stock. Bank of America boosted their price target on shares of Shopify from $110.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, DA Davidson boosted their price target on shares of Shopify from $125.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Twenty-two research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $151.95.

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.