Callan Family Office LLC Makes New $1.05 Million Investment in Shopify Inc. $SHOP

Key Points

• Callan Family Office LLC invested $1.05 million in Shopify Inc., acquiring 9,123 shares during the second quarter.
• Analysts have mixed ratings for Shopify, with many raising target prices; Goldman Sachs increased its target to $176.00, while Loop Capital downgraded it to a hold.
• Shopify reported earnings per share of $0.35 for the last quarter, exceeding expectations and showing significant revenue growth compared to the prior year.

Callan Family Office LLC bought a new position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,123 shares of the software maker's stock, valued at approximately $1,052,000.

Other large investors have also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC bought a new position in Shopify in the second quarter worth about $25,000. Coastline Trust Co bought a new position in Shopify in the second quarter worth about $29,000. 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. Finally, Global Wealth Strategies & Associates lifted its holdings in Shopify by 182.8% in the second quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker's stock worth $30,000 after acquiring an additional 170 shares during the last quarter. Institutional investors own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SHOP shares. The Goldman Sachs Group raised their target price on shares of Shopify from $120.00 to $176.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Loop Capital cut shares of Shopify from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a report on Tuesday, July 22nd. Mizuho boosted their price objective on Shopify from $85.00 to $150.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on Shopify from $115.00 to $179.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Phillip Securities downgraded Shopify from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, August 12th. Twenty-two research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $151.95.

Shopify Trading Down 7.8%

Shares of NASDAQ SHOP opened at $151.02 on Monday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $169.69. The company has a market cap of $196.27 billion, a PE ratio of 84.37, a P/E/G ratio of 7.07 and a beta of 2.72. The stock has a 50 day simple moving average of $146.61 and a 200-day simple moving average of $119.28.

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

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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