Shopify Inc. $SHOP Shares Newly Acquired by Vestor Capital LLC

Vestor Capital LLC acquired a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the third quarter, HoldingsChannel reports. The firm acquired 3,694 shares of the software maker’s stock, valued at approximately $548,000.

Other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in shares of Shopify during the 3rd quarter worth $29,000. MADDEN SECURITIES Corp acquired a new stake in shares of Shopify during the third quarter worth $30,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Shopify in the third quarter valued at $32,000. Graney & King LLC purchased a new stake in shares of Shopify in the first quarter valued at $27,000. Finally, Trellis Wealth Advisors LLC purchased a new position in Shopify during the third quarter worth about $37,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 2.1%

Shares of SHOP stock opened at $152.06 on Tuesday. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $180.88. The firm’s 50 day moving average price is $152.50 and its two-hundred day moving average price is $130.14. The stock has a market cap of $195.65 billion, a price-to-earnings ratio of 92.72, a price-to-earnings-growth ratio of 3.10 and a beta of 2.65.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 3rd. The software maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.16. The company had revenue of $3.74 billion during the quarter. Shopify had a return on equity of 14.03% and a net margin of 15.01%. Shopify’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. On average, equities analysts forecast that Shopify Inc. will post 1.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on SHOP shares. Benchmark raised their price target on Shopify from $145.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. ATB Cormark Capital Markets downgraded shares of Shopify from a “moderate buy” rating to a “hold” rating in a research note on Thursday, October 22nd. National Bank Financial increased their price objective on shares of Shopify from $180.00 to $185.00 and gave the stock an “outperform” rating in a report on Wednesday, November 4th. Piper Sandler reissued an “overweight” rating on shares of Shopify in a research report on Monday, October 5th. Finally, UBS Group boosted their target price on shares of Shopify from $145.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $178.82.

About Shopify

Shopify is a commerce technology company that provides tools for businesses to create and operate online stores. Its platform supports activities such as product management, order processing, payments, shipping, marketing and customer engagement.

Shopify also offers point-of-sale tools for merchants selling in person, connecting retail operations with online sales. Its services are used by businesses of varying sizes and are available to merchants in countries around the world.

Founded in 2006, Shopify is headquartered in Ottawa, Canada.