Dash Acquisitions Inc. Acquires Shares of 37,103 Shopify Inc. (NYSE:SHOP)

Dash Acquisitions Inc. acquired a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 37,103 shares of the software maker's stock, valued at approximately $2,933,000. Shopify accounts for 0.7% of Dash Acquisitions Inc.'s holdings, making the stock its 25th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group lifted its holdings in Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker's stock worth $26,000 after buying an additional 200 shares during the period. Rosenberg Matthew Hamilton increased its stake in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker's stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. Cultivar Capital Inc. bought a new position in shares of Shopify during the second quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. bought a new position in shares of Shopify during the second quarter valued at approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Shopify during the second quarter valued at approximately $39,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SHOP. Robert W. Baird raised their target price on shares of Shopify from $79.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, October 9th. Roth Mkm raised their target price on shares of Shopify from $77.00 to $79.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Truist Financial decreased their target price on shares of Shopify from $65.00 to $55.00 and set a "hold" rating for the company in a research note on Tuesday, August 6th. KeyCorp initiated coverage on shares of Shopify in a research report on Thursday, July 25th. They set an "overweight" rating and a $80.00 price target for the company. Finally, Wolfe Research initiated coverage on shares of Shopify in a research report on Tuesday, July 16th. They set an "outperform" rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Shopify currently has an average rating of "Moderate Buy" and an average price target of $81.03.

Shopify Price Performance

Shopify stock traded up $0.78 during mid-day trading on Friday, hitting $78.99. The stock had a trading volume of 6,189,927 shares, compared to its average volume of 4,674,724. The firm has a market capitalization of $101.93 billion, a P/E ratio of 80.60, a P/E/G ratio of 2.62 and a beta of 2.36. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm's 50 day moving average is $77.54 and its 200 day moving average is $69.39. Shopify Inc. has a one year low of $48.56 and a one year high of $91.57.

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

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.