Cobblestone Capital Advisors LLC NY Purchases 7,055 Shares of Shopify Inc. (NYSE:SHOP)

Cobblestone Capital Advisors LLC NY increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,884 shares of the software maker’s stock after acquiring an additional 7,055 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Shopify were worth $15,580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SHOP. Private Wealth Management Group LLC purchased a new position in shares of Shopify in the 4th quarter valued at approximately $26,000. DSM Capital Partners LLC purchased a new position in shares of Shopify in the fourth quarter worth $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Shopify during the fourth quarter worth $28,000. Your Advocates Ltd. LLP grew its holdings in shares of Shopify by 4,344.4% during the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after buying an additional 391 shares during the last quarter. Finally, Cultivar Capital Inc. acquired a new position in shares of Shopify in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 4.4 %

Shares of SHOP stock traded down $3.10 during trading hours on Friday, reaching $67.01. 7,380,375 shares of the stock traded hands, compared to its average volume of 9,966,647. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $86.35 billion, a PE ratio of -394.18, a PEG ratio of 2.48 and a beta of 2.35. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The business has a fifty day moving average price of $66.99 and a 200 day moving average price of $68.63.

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

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of recent research reports. Truist Financial reduced their price target on shares of Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada restated an “outperform” rating and set a $85.00 target price on shares of Shopify in a research report on Thursday, August 8th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Wedbush reiterated a “neutral” rating and set a $72.00 price objective (up previously from $68.00) on shares of Shopify in a research note on Wednesday, August 7th. Finally, Argus upgraded Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $77.11.

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.