Bourgeon Capital Management LLC Buys Shares of 3,608 Shopify Inc. $SHOP

Key Points

• Bourgeon Capital Management LLC has acquired 3,608 shares of Shopify Inc., valued at approximately $416,000, during the 2nd quarter.
• Shopify's stock is currently trading at $149.00, with a market cap of $193.65 billion and a price-to-earnings ratio of 83.24.
• Analysts have mixed ratings on Shopify, with an average rating of "Moderate Buy" and a consensus target price of $151.69.

Bourgeon Capital Management LLC acquired a new stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,608 shares of the software maker's stock, valued at approximately $416,000.

Several other large investors have also bought and sold shares of SHOP. Family Legacy Financial Solutions LLC bought a new position in shares of Shopify in the 2nd quarter worth about $25,000. Coastline Trust Co purchased a new position in shares of Shopify in the 2nd quarter worth approximately $29,000. Smithfield Trust Co boosted its stake in shares of Shopify by 149.2% in the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker's stock worth $30,000 after buying an additional 188 shares during the last quarter. Dagco Inc. bought a new stake in shares of Shopify in the 1st quarter worth approximately $30,000. Finally, Global Wealth Strategies & Associates raised its holdings in shares of Shopify by 182.8% in the 2nd quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker's stock worth $30,000 after purchasing an additional 170 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

Shopify stock opened at $149.00 on Tuesday. The firm has a 50-day moving average of $140.41 and a two-hundred day moving average of $115.83. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $159.01. The stock has a market cap of $193.65 billion, a price-to-earnings ratio of 83.24, a price-to-earnings-growth ratio of 6.65 and a beta of 2.69.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on SHOP shares. Stifel Nicolaus upped their price target on shares of Shopify from $110.00 to $150.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Loop Capital lowered shares of Shopify from a "buy" rating to a "hold" rating and set a $120.00 target price for the company. in a report on Tuesday, July 22nd. Wells Fargo & Company increased their price target on shares of Shopify from $107.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. ATB Capital downgraded shares of Shopify to a "sector perform" rating in a research report on Thursday, August 7th. Finally, CIBC lifted their target price on shares of Shopify from $145.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Twenty-three analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Shopify presently has an average rating of "Moderate Buy" and a consensus target price of $151.69.

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.

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