Great Valley Advisor Group Inc. Buys 583 Shares of Shopify Inc. (NYSE:SHOP)

Great Valley Advisor Group Inc. increased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,871 shares of the software maker’s stock after purchasing an additional 583 shares during the period. Great Valley Advisor Group Inc.’s holdings in Shopify were worth $1,081,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Baillie Gifford & Co. grew its position in Shopify by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after acquiring an additional 1,419,749 shares during the last quarter. Vanguard Group Inc. grew its position in Shopify by 1.6% during the third quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker’s stock valued at $2,233,344,000 after acquiring an additional 634,883 shares during the last quarter. TD Asset Management Inc grew its position in Shopify by 4.4% during the third quarter. TD Asset Management Inc now owns 7,104,095 shares of the software maker’s stock valued at $389,052,000 after acquiring an additional 299,788 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Shopify by 6.5% in the third quarter. Legal & General Group Plc now owns 6,196,285 shares of the software maker’s stock worth $339,750,000 after purchasing an additional 377,901 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Shopify by 78.4% in the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock worth $262,462,000 after purchasing an additional 2,113,773 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SHOP shares. Wedbush restated a “neutral” rating and issued a $68.00 target price on shares of Shopify in a report on Tuesday, February 13th. UBS Group raised their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Roth Capital raised their target price on shares of Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. BNP Paribas upgraded shares of Shopify from an “underperform” rating to an “outperform” rating in a report on Thursday. Finally, StockNews.com upgraded shares of Shopify from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Shopify currently has a consensus rating of “Hold” and an average target price of $79.03.

Shopify Price Performance

Shares of NYSE:SHOP opened at $74.47 on Friday. 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 6.99 and a quick ratio of 6.99. The business has a fifty day moving average price of $74.77 and a 200-day moving average price of $73.00. The company has a market capitalization of $95.81 billion, a PE ratio of 827.54 and a beta of 2.20.

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, beating the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. As a group, equities analysts expect that Shopify Inc. will post 0.59 EPS for the current fiscal 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.