Shopify Inc. (NYSE:SHOP) Shares Purchased by Investment House LLC

Investment House LLC lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,690 shares of the software maker’s stock after purchasing an additional 375 shares during the period. Investment House LLC’s holdings in Shopify were worth $376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SHOP. Private Wealth Management Group LLC purchased a new position in Shopify in the 4th quarter valued at about $26,000. DSM Capital Partners LLC acquired a new stake in shares of Shopify in the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Shopify during the fourth quarter worth approximately $28,000. Your Advocates Ltd. LLP raised its stake in Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after purchasing an additional 391 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new position in Shopify in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

SHOP has been the subject of a number of research reports. Canaccord Genuity Group dropped their target price on shares of Shopify from $90.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Truist Financial decreased their target price on shares of Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. CIBC dropped their price target on Shopify from $100.00 to $85.00 and set an “outperformer” rating for the company in a research report on Thursday, May 9th. Roth Mkm lifted their price objective on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, TD Securities lowered their price objective on Shopify from $80.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.30.

Shopify Price Performance

NYSE:SHOP traded up $1.27 during trading hours on Wednesday, hitting $76.14. The company’s stock had a trading volume of 5,698,624 shares, compared to its average volume of 10,325,305. Shopify Inc. has a 52-week low of $45.50 and a 52-week 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 business’s 50-day moving average is $64.99 and its two-hundred day moving average is $69.40.

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

Shopify Company 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.