Intrinsic Value Partners LLC Sells 82 Shares of Shopify Inc. $SHOP

Intrinsic Value Partners LLC lowered its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,694 shares of the software maker’s stock after selling 82 shares during the period. Shopify comprises about 1.4% of Intrinsic Value Partners LLC’s holdings, making the stock its 19th largest holding. Intrinsic Value Partners LLC’s holdings in Shopify were worth $1,580,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SHOP. Family Legacy Financial Solutions LLC bought a new stake in Shopify during the second quarter worth about $25,000. Coastline Trust Co bought a new stake in Shopify during the second quarter worth about $29,000. Smithfield Trust Co lifted its stake in Shopify by 149.2% during the first quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock worth $30,000 after purchasing an additional 188 shares during the last quarter. Dagco Inc. bought a new stake in Shopify during the first quarter worth about $30,000. Finally, Global Wealth Strategies & Associates lifted its stake in Shopify by 182.8% during the second quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock worth $30,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the subject of several research analyst reports. CIBC lifted their price target on Shopify from $145.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. JMP Securities lifted their price objective on Shopify from $135.00 to $185.00 and gave the stock a “market outperform” rating in a report on Thursday, August 7th. Wells Fargo & Company lifted their price objective on Shopify from $107.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, June 6th. Loop Capital downgraded Shopify from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Tuesday, July 22nd. Finally, Arete reiterated a “neutral” rating on shares of Shopify in a report on Wednesday, July 23rd. Twenty-two equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $150.59.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $161.14 on Friday. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $162.60. The company has a market cap of $209.43 billion, a PE ratio of 90.02, a P/E/G ratio of 7.17 and a beta of 2.72. The stock’s 50-day moving average is $142.78 and its 200 day moving average is $117.13.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the business earned $0.26 EPS. Shopify’s revenue was up 31.1% compared to the same quarter last year. Analysts expect that Shopify Inc. will post 1.12 EPS 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.