Williams Financial LLC Takes Position in Shopify Inc. (NYSE:SHOP)

Williams Financial LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,860 shares of the software maker’s stock, valued at approximately $694,000.

Several other hedge funds have also recently bought and sold shares of the business. Tradition Wealth Management LLC lifted its holdings in Shopify by 7.5% in the 4th 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 during the last quarter. Willis Johnson & Associates Inc. lifted its stake in Shopify by 5.8% during the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock valued at $211,000 after purchasing an additional 149 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in Shopify by 3.2% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 4,839 shares of the software maker’s stock worth $377,000 after buying an additional 150 shares in the last quarter. Valley National Advisers Inc. grew its position in Shopify by 11.4% in the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock worth $114,000 after buying an additional 152 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. increased its holdings in shares of Shopify by 1.3% in the first quarter. Cherry Creek Investment Advisors Inc. now owns 12,718 shares of the software maker’s stock valued at $981,000 after buying an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SHOP shares. Wedbush restated a “neutral” rating and issued a $72.00 target price (up from $68.00) on shares of Shopify in a report on Wednesday, August 7th. Mizuho cut their price objective on Shopify from $75.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. 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 report on Tuesday, August 6th. Morgan Stanley boosted their price target on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, KeyCorp initiated coverage on shares of Shopify in a research note on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.24.

Shopify Stock Performance

SHOP stock traded down $0.30 during mid-day trading on Friday, reaching $74.55. 5,403,596 shares of the stock traded hands, compared to its average volume of 12,221,806. The firm has a market capitalization of $96.07 billion, a PE ratio of -438.53, a P/E/G ratio of 2.40 and a beta of 2.30. The business has a 50-day moving average of $64.53 and a two-hundred day moving average of $69.47. 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 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) EPS. As a group, equities analysts predict that Shopify Inc. will post 0.76 EPS for the current fiscal year.

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.