Vontobel Holding Ltd. Increases Stake in Shopify Inc. $SHOP

Vontobel Holding Ltd. increased its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 26.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,598 shares of the software maker’s stock after buying an additional 15,376 shares during the quarter. Vontobel Holding Ltd.’s holdings in Shopify were worth $8,490,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Hummer Financial Advisory Services Inc increased its holdings in Shopify by 3.8% in the 2nd quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker’s stock worth $299,000 after buying an additional 95 shares during the period. Salem Investment Counselors Inc. grew its stake in shares of Shopify by 16.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker’s stock worth $81,000 after purchasing an additional 100 shares during the period. Quadcap Wealth Management LLC grew its stake in shares of Shopify by 0.9% during the 1st quarter. Quadcap Wealth Management LLC now owns 11,133 shares of the software maker’s stock worth $1,063,000 after purchasing an additional 103 shares during the period. Centurion Wealth Management LLC grew its stake in shares of Shopify by 1.7% during the 2nd quarter. Centurion Wealth Management LLC now owns 6,339 shares of the software maker’s stock worth $731,000 after purchasing an additional 103 shares during the period. Finally, Fullcircle Wealth LLC grew its stake in shares of Shopify by 2.7% during the 1st quarter. Fullcircle Wealth LLC now owns 4,240 shares of the software maker’s stock worth $418,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $163.87 on Friday. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $169.69. The firm has a market capitalization of $212.98 billion, a price-to-earnings ratio of 91.55, a price-to-earnings-growth ratio of 7.79 and a beta of 2.72. The business’s 50 day moving average price is $145.96 and its 200-day moving average price is $118.77.

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 firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the firm posted $0.26 EPS. The business’s revenue was up 31.1% on a year-over-year basis. On average, sell-side analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on SHOP. Citigroup raised their price objective on shares of Shopify from $155.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Mizuho raised their price objective on shares of Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Phillip Securities cut shares of Shopify from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 12th. National Bankshares raised their price objective on shares of Shopify from $140.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, Truist Financial raised their price objective on shares of Shopify from $95.00 to $150.00 and gave the stock a “hold” rating in a research note on Thursday, August 7th. Twenty-two equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Shopify currently has an average rating of “Hold” and an average price target of $151.95.

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.