FineMark National Bank & Trust Invests $214,000 in Shopify Inc (SHOP)

FineMark National Bank & Trust bought a new stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,300 shares of the software maker’s stock, valued at approximately $214,000.

Several other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC grew its position in shares of Shopify by 28.8% in the third quarter. Parallel Advisors LLC now owns 1,646 shares of the software maker’s stock valued at $271,000 after purchasing an additional 368 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Shopify by 18.9% in the second quarter. Fisher Asset Management LLC now owns 2,496 shares of the software maker’s stock valued at $364,000 after purchasing an additional 396 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Shopify by 12.9% in the third quarter. First Trust Advisors LP now owns 4,057 shares of the software maker’s stock valued at $667,000 after buying an additional 465 shares during the period. Intl Fcstone Inc. boosted its stake in shares of Shopify by 22.5% in the third quarter. Intl Fcstone Inc. now owns 2,591 shares of the software maker’s stock valued at $426,000 after buying an additional 476 shares during the period. Finally, Comerica Bank boosted its stake in shares of Shopify by 8.1% in the third quarter. Comerica Bank now owns 8,289 shares of the software maker’s stock valued at $1,095,000 after buying an additional 618 shares during the period. 60.59% of the stock is currently owned by institutional investors.

NYSE SHOP opened at $140.90 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.82 and a quick ratio of 11.82. Shopify Inc has a fifty-two week low of $92.41 and a fifty-two week high of $176.60. The firm has a market cap of $14.99 billion, a price-to-earnings ratio of -335.48 and a beta of 1.40.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Thursday, October 25th. The software maker reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.34. Shopify had a negative return on equity of 4.26% and a negative net margin of 6.93%. The firm had revenue of $270.06 million during the quarter, compared to analysts’ expectations of $257.17 million. As a group, analysts predict that Shopify Inc will post -0.63 EPS for the current fiscal year.

SHOP has been the subject of several recent research reports. Rosenblatt Securities initiated coverage on Shopify in a research note on Tuesday, September 4th. They issued a “buy” rating and a $188.00 price target for the company. Wedbush initiated coverage on Shopify in a research note on Thursday, September 13th. They issued an “outperform” rating and a $177.00 price target for the company. Roth Capital cut their price target on Shopify from $192.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, August 1st. Guggenheim initiated coverage on Shopify in a research note on Tuesday, August 7th. They issued a “buy” rating and a $180.00 price target for the company. Finally, Royal Bank of Canada boosted their price target on Shopify from $157.00 to $159.00 and gave the company a “sector perform” rating in a research note on Saturday, October 27th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Shopify has an average rating of “Buy” and a consensus price target of $166.59.

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Shopify Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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