2,734 Shares in Shopify Inc. (NYSE:SHOP) Purchased by Verus Capital Partners LLC

Verus Capital Partners LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,734 shares of the software maker’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Empowered Funds LLC raised its holdings in shares of Shopify by 15.4% during the first quarter. Empowered Funds LLC now owns 12,708 shares of the software maker’s stock valued at $981,000 after purchasing an additional 1,694 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Shopify by 51.4% in the 1st quarter. Bleakley Financial Group LLC now owns 16,315 shares of the software maker’s stock worth $1,259,000 after buying an additional 5,537 shares during the last quarter. TBH Global Asset Management LLC increased its holdings in shares of Shopify by 43.0% in the 1st quarter. TBH Global Asset Management LLC now owns 5,649 shares of the software maker’s stock worth $436,000 after buying an additional 1,700 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in Shopify by 1.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 26,369 shares of the software maker’s stock valued at $2,035,000 after purchasing an additional 365 shares during the last quarter. Finally, Midwest Professional Planners LTD. boosted its position in Shopify by 31.7% in the 1st quarter. Midwest Professional Planners LTD. now owns 4,842 shares of the software maker’s stock valued at $374,000 after buying an additional 1,166 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Up 5.7 %

Shares of NYSE:SHOP opened at $115.13 on Thursday. The stock’s 50-day simple moving average is $79.47 and its two-hundred day simple moving average is $70.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $115.62. The stock has a market capitalization of $148.56 billion, a price-to-earnings ratio of 107.60, a PEG ratio of 3.64 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Shopify had a return on equity of 11.94% and a net margin of 16.84%. Analysts expect that Shopify Inc. will post 0.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SHOP. UBS Group increased their target price on shares of Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Shopify in a report on Monday, October 7th. Roth Mkm raised their price target on shares of Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Piper Sandler lifted their price target on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Redburn Atlantic upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target for the company in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.95.

About Shopify

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.