Brandywine Oak Private Wealth LLC Takes $231,000 Position in Shopify Inc. $SHOP

Brandywine Oak Private Wealth LLC acquired a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 2,000 shares of the software maker’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Shopify by 171.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock valued at $48,827,000 after purchasing an additional 267,271 shares in the last quarter. Worth Asset Management LLC acquired a new position in shares of Shopify in the 2nd quarter valued at about $236,000. Avior Wealth Management LLC lifted its stake in shares of Shopify by 32.6% in the 2nd quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker’s stock valued at $1,570,000 after purchasing an additional 3,347 shares in the last quarter. 111 Capital acquired a new position in Shopify during the 2nd quarter worth approximately $1,719,000. Finally, Integrity Alliance LLC. acquired a new position in Shopify during the 1st quarter worth approximately $211,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Down 1.5%

Shares of SHOP opened at $163.87 on Friday. The business’s 50 day moving average is $145.96 and its two-hundred day moving average is $118.77. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $169.69. The firm has a market cap of $212.98 billion, a price-to-earnings ratio of 91.55, a PEG ratio of 7.79 and a beta of 2.72.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its 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 analyst estimates of $2.55 billion. During the same period in the prior year, the company posted $0.26 EPS. Shopify’s quarterly revenue was up 31.1% on a year-over-year basis. On average, equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent research reports. Arete reissued a “neutral” rating on shares of Shopify in a research report on Wednesday, July 23rd. Barclays boosted their price target on Shopify from $94.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. CIBC boosted their price target on Shopify from $145.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. DA Davidson boosted their price target on Shopify from $125.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, National Bankshares boosted their price target on Shopify from $140.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Twenty-two analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $151.95.

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.