Stock Traders Buy Large Volume of Shopify Call Options (NYSE:SHOP)

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 211,074 call options on the stock. This represents an increase of 305% compared to the typical daily volume of 52,070 call options.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Scotiabank upped their price target on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. Evercore ISI lifted their price target on Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Royal Bank of Canada upped their price target on Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, UBS Group raised their price target on shares of Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Trading Up 5.7 %

Shopify stock opened at $115.13 on Thursday. The business’s fifty day simple moving average is $80.36 and its two-hundred day simple moving average is $70.50. 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 company has a market capitalization of $148.56 billion, a price-to-earnings ratio of 107.60, a price-to-earnings-growth ratio of 3.64 and a beta of 2.36. Shopify has a 12 month low of $48.56 and a 12 month high of $115.62.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Shopify had a net margin of 16.84% and a return on equity of 11.94%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. As a group, equities analysts predict that Shopify will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shopify

Several hedge funds and other institutional investors have recently bought and sold shares of SHOP. Norden Group LLC purchased a new stake in shares of Shopify in the 1st quarter worth $213,000. Envestnet Portfolio Solutions Inc. raised its position in Shopify by 1.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 26,259 shares of the software maker’s stock valued at $2,026,000 after purchasing an additional 405 shares during the period. Empowered Funds LLC lifted its position in Shopify by 15.4% in the first quarter. Empowered Funds LLC now owns 12,708 shares of the software maker’s stock worth $981,000 after buying an additional 1,694 shares during the last quarter. Heritage Wealth Advisors lifted its holdings in shares of Shopify by 3,957.6% in the 1st quarter. Heritage Wealth Advisors now owns 3,449 shares of the software maker’s stock worth $266,000 after acquiring an additional 3,364 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in Shopify by 51.4% in the first quarter. Bleakley Financial Group LLC now owns 16,315 shares of the software maker’s stock worth $1,259,000 after purchasing an additional 5,537 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Company 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.