Shopify Inc. (NYSE:SHOP) Shares Purchased by Beacon Capital Management LLC

Beacon Capital Management LLC lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,122 shares of the software maker’s stock after buying an additional 185 shares during the period. Beacon Capital Management LLC’s holdings in Shopify were worth $206,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Private Wealth Management Group LLC acquired a new position in shares of Shopify during the 4th quarter valued at $26,000. DSM Capital Partners LLC purchased a new stake in shares of Shopify in the fourth quarter worth about $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Shopify in the fourth quarter valued at about $28,000. Your Advocates Ltd. LLP raised its holdings in shares of Shopify by 4,344.4% during the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after buying an additional 391 shares during the period. Finally, Cultivar Capital Inc. acquired a new position in Shopify during the 2nd quarter worth approximately $33,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Up 2.5 %

Shares of NYSE SHOP traded up $1.84 during mid-day trading on Friday, hitting $76.14. 5,405,570 shares of the company traded hands, compared to its average volume of 10,261,424. 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 Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. The stock has a market capitalization of $98.12 billion, a price-to-earnings ratio of -447.88, a PEG ratio of 2.50 and a beta of 2.30. The business has a 50 day moving average of $65.56 and a two-hundred day moving average of $69.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) earnings per share. On average, sell-side analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on SHOP. Loop Capital increased their price objective on shares of Shopify from $68.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, August 16th. BNP Paribas upgraded Shopify from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 2nd. Piper Sandler lifted their target price on Shopify from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Canaccord Genuity Group cut their price target on shares of Shopify from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.30.

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.