34,822 Shares in Shopify Inc. $SHOP Bought by Transamerica Financial Advisors LLC

Key Points

• Transamerica Financial Advisors LLC acquired 34,822 shares of Shopify Inc. in the first quarter, valued at approximately $3.3 million.
• Shopify reported $2.68 billion in revenue for the latest quarter, exceeding estimates by $0.13 billion, and earnings per share were $0.35, surpassing forecasts.
• Analysts remain optimistic with a consensus rating of "Moderate Buy" and a price target averaging $148.51 for Shopify shares.

Transamerica Financial Advisors LLC bought a new stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 34,822 shares of the software maker's stock, valued at approximately $3,325,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Fourth Dimension Wealth LLC acquired a new position in shares of Shopify in the 4th quarter valued at about $30,000. Smithfield Trust Co lifted its holdings in Shopify by 149.2% in the first quarter. Smithfield Trust Co now owns 314 shares of the software maker's stock worth $30,000 after acquiring an additional 188 shares during the last quarter. Dagco Inc. bought a new position in Shopify in the first quarter worth about $30,000. Cary Street Partners Investment Advisory LLC boosted its stake in Shopify by 86.8% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 355 shares of the software maker's stock valued at $34,000 after acquiring an additional 165 shares during the period. Finally, Accent Capital Management LLC bought a new position in shares of Shopify during the first quarter valued at approximately $46,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

Shopify stock opened at $140.85 on Wednesday. Shopify Inc. has a 12-month low of $65.86 and a 12-month high of $156.85. The stock has a market capitalization of $183.06 billion, a PE ratio of 90.87, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63. The firm has a 50 day simple moving average of $125.88 and a 200-day simple moving average of $110.15.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a return on equity of 12.00% and a net margin of 22.74%.The firm's revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. On average, analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Scotiabank reissued a "sector perform" rating and issued a $150.00 price target (up previously from $115.00) on shares of Shopify in a report on Thursday, August 7th. Needham & Company LLC initiated coverage on Shopify in a research note on Monday, July 14th. They issued a "buy" rating and a $135.00 target price on the stock. National Bankshares boosted their price target on shares of Shopify from $140.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. BNP Paribas cut shares of Shopify from a "strong-buy" rating to a "hold" rating in a report on Monday, May 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Shopify from $120.00 to $176.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Twenty-four analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Shopify has an average rating of "Moderate Buy" and a consensus price target of $148.51.

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.

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