Brandywine Oak Private Wealth LLC Takes Position in Shopify Inc. $SHOP

Key Points

• Brandywine Oak Private Wealth LLC established a new position in Shopify Inc., purchasing 2,000 shares valued at approximately $231,000 during the second quarter.
• Shopify reported a 31.1% year-over-year increase in revenue, earning $0.35 EPS for the quarter, surpassing analysts' expectations of $0.29.
• Current analysts hold a consensus rating of "Hold" for Shopify, with an average price target of $151.95, though some analysts have set targets as high as $185.00.

Brandywine Oak Private Wealth LLC purchased a new stake in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,000 shares of the software maker's stock, valued at approximately $231,000.

A number of other hedge funds have also made changes to their positions in the company. M1 Capital Management LLC purchased a new position in shares of Shopify in the second quarter valued at $249,000. Total Wealth Planning & Management Inc. purchased a new position in shares of Shopify in the second quarter valued at $216,000. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Shopify in the second quarter valued at $1,603,000. Moseley Investment Management Inc. increased its position in shares of Shopify by 2.8% in the second quarter. Moseley Investment Management Inc. now owns 3,674 shares of the software maker's stock valued at $424,000 after buying an additional 100 shares in the last quarter. Finally, KRS Capital Management LLC increased its position in shares of Shopify by 2.5% in the second quarter. KRS Capital Management LLC now owns 4,835 shares of the software maker's stock valued at $558,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Price Performance

SHOP opened at $163.87 on Friday. The stock has a market capitalization of $212.98 billion, a price-to-earnings ratio of 91.55, a price-to-earnings-growth ratio of 7.79 and a beta of 2.72. The business has a 50-day moving average of $145.96 and a two-hundred day moving average of $118.77. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $169.69.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. TD Cowen restated a "hold" rating and issued a $156.00 price target on shares of Shopify in a research report on Friday, October 3rd. BMO Capital Markets lifted their price objective on Shopify from $120.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. ATB Capital cut Shopify to a "sector perform" rating in a research report on Thursday, August 7th. Evercore ISI lifted their price objective on Shopify from $120.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, DA Davidson lifted their price objective on Shopify from $125.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Twenty-two investment analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Shopify currently has a consensus rating of "Hold" and an average price target of $151.95.

About Shopify

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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