WMG Financial Advisors LLC Has $901,000 Stock Position in Shopify Inc. $SHOP

WMG Financial Advisors LLC boosted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 211.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,594 shares of the software maker’s stock after buying an additional 5,154 shares during the period. WMG Financial Advisors LLC’s holdings in Shopify were worth $901,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SHOP. Kingdom Financial Group LLC. bought a new position in Shopify during the fourth quarter worth $26,000. Curio Wealth LLC acquired a new position in Shopify during the 4th quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shopify in the 4th quarter valued at $29,000. Lloyd Advisory Services LLC. bought a new stake in Shopify in the 4th quarter valued at $31,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Shopify in the 4th quarter worth $31,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHOP has been the topic of several research reports. Canaccord Genuity Group dropped their price objective on shares of Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. National Bank Financial reduced their target price on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Barclays set a $126.00 target price on Shopify and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Citizens Jmp cut their price target on Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $175.00 price objective on shares of Shopify in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $114.21 on Tuesday. The stock has a market cap of $148.21 billion, a PE ratio of 113.08, a PEG ratio of 3.21 and a beta of 2.60. The business has a fifty day moving average of $112.42 and a two-hundred day moving average of $127.79. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, beating the consensus estimate of $0.22 by $998.78. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. Analysts predict that Shopify Inc. will post 1.39 earnings per share for the current year.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.