Catalytic Wealth RIA LLC Buys New Shares in Shopify Inc. (NYSE:SHOP)

Catalytic Wealth RIA LLC acquired a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,003 shares of the software maker’s stock, valued at approximately $463,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. GQG Partners LLC boosted its stake in shares of Shopify by 197.9% during the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after purchasing an additional 13,885,473 shares during the period. Norges Bank purchased a new stake in Shopify during the 4th quarter valued at $1,049,089,000. Capital World Investors increased its position in shares of Shopify by 26.2% in the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after acquiring an additional 10,340,040 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Shopify by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after acquiring an additional 5,982,434 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Shopify by 214.5% in the first quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock worth $224,492,000 after purchasing an additional 1,983,996 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on SHOP shares. Benchmark reissued a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. Mizuho dropped their price objective on shares of Shopify from $75.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shopify in a research note on Thursday, May 9th. Wedbush restated a “neutral” rating and set a $72.00 price target (up from $68.00) on shares of Shopify in a report on Wednesday, August 7th. Finally, Loop Capital boosted their price objective on shares of Shopify from $68.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.30.

Shopify Price Performance

SHOP traded up $0.80 on Friday, hitting $74.07. 3,019,334 shares of the company’s stock traded hands, compared to its average volume of 10,078,813. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. 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 has a market cap of $95.45 billion, a price-to-earnings ratio of -435.71, a P/E/G ratio of 2.50 and a beta of 2.30. The company’s 50 day simple moving average is $66.47 and its 200-day simple moving average is $68.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. The firm had revenue of $2.05 billion for 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%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. As a group, research analysts anticipate that Shopify Inc. will post 0.76 EPS for the current year.

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.