2,030 Shares in Shopify Inc. $SHOP Acquired by Trilogy Capital Inc.

Key Points

• Trilogy Capital Inc. has acquired 2,030 shares of Shopify Inc. for approximately $234,000, marking a new addition to their investment portfolio in the second quarter.
• Shopify reported a revenue of $2.68 billion for the last quarter, exceeding analysts' expectations, and achieved earnings per share of $0.35, beating the consensus estimate.
• Hedge funds currently own 69.27% of Shopify's stock, reflecting a strong institutional interest in the company.

Trilogy Capital Inc. acquired a new stake in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,030 shares of the software maker's stock, valued at approximately $234,000.

A number of other hedge funds have also modified their holdings of SHOP. Family Legacy Financial Solutions LLC purchased a new stake in Shopify in the 2nd quarter valued at $25,000. Coastline Trust Co acquired a new position in Shopify in the second quarter valued at $29,000. Smithfield Trust Co raised its holdings in shares of Shopify by 149.2% in the first quarter. Smithfield Trust Co now owns 314 shares of the software maker's stock valued at $30,000 after buying an additional 188 shares during the last quarter. Dagco Inc. acquired a new stake in shares of Shopify during the first quarter worth about $30,000. Finally, Global Wealth Strategies & Associates grew its holdings in shares of 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 buying an additional 170 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of NASDAQ:SHOP opened at $151.30 on Friday. The stock has a 50-day simple moving average of $142.04 and a 200-day simple moving average of $116.66. The stock has a market capitalization of $196.64 billion, a P/E ratio of 84.53, a PEG ratio of 7.09 and a beta of 2.72. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $159.01.

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

Analyst Ratings Changes

Several research firms have commented on SHOP. Wells Fargo & Company upped their price objective on Shopify from $107.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Truist Financial upped their price target on Shopify from $95.00 to $150.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Mizuho lifted their price objective on shares of Shopify from $85.00 to $150.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Loop Capital cut shares of Shopify from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research note on Tuesday, July 22nd. Finally, Needham & Company LLC initiated coverage on shares of Shopify in a research note on Monday, July 14th. They issued a "buy" rating and a $135.00 target price for the company. Twenty-three research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Shopify has an average rating of "Moderate Buy" and a consensus price target of $150.83.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.