Revolve Wealth Partners LLC Takes $1.44 Million Position in Shopify Inc. (NYSE:SHOP)

Revolve Wealth Partners LLC purchased a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 18,697 shares of the software maker's stock, valued at approximately $1,443,000.

Several other hedge funds have also made changes to their positions in SHOP. Wealth Management Partners LLC increased its holdings in shares of Shopify by 0.9% during the fourth quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker's stock valued at $1,085,000 after purchasing an additional 126 shares during the period. SJS Investment Consulting Inc. lifted its stake in shares of Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker's stock worth $27,000 after acquiring an additional 130 shares during the period. Tradition Wealth Management LLC boosted its holdings in shares of Shopify by 7.5% in the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker's stock valued at $156,000 after acquiring an additional 140 shares in the last quarter. Pachira Investments Inc. increased its stake in shares of Shopify by 2.1% during the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker's stock valued at $552,000 after acquiring an additional 146 shares during the period. Finally, Baldwin Brothers LLC MA raised its holdings in Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker's stock worth $35,000 after purchasing an additional 147 shares in the last quarter. Institutional investors own 69.27% of the company's stock.

Shopify Stock Performance

SHOP stock traded up $0.94 during mid-day trading on Thursday, reaching $66.39. 7,702,022 shares of the stock traded hands, compared to its average volume of 10,350,316. The firm has a market capitalization of $85.56 billion, a PE ratio of -386.88, a P/E/G ratio of 3.25 and a beta of 2.27. The business has a 50-day moving average of $64.33 and a two-hundred day moving average of $73.10. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. As a group, equities analysts predict that Shopify Inc. will post 0.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SHOP. TD Securities dropped their price objective on Shopify from $80.00 to $72.00 and set a "hold" rating on the stock in a research note on Thursday, May 9th. JPMorgan Chase & Co. assumed coverage on shares of Shopify in a report on Tuesday, June 11th. They issued an "overweight" rating and a $74.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Shopify from $95.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, May 9th. Evercore upgraded shares of Shopify from an "in-line" rating to an "outperform" rating and set a $75.00 target price on the stock in a report on Friday, June 14th. Finally, Evercore ISI upgraded shares of Shopify from an "in-line" rating to an "outperform" rating and set a $75.00 price target on the stock in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have issued a buy rating to the company's stock. Based on data from MarketBeat, Shopify has an average rating of "Moderate Buy" and a consensus price target of $76.42.

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.