Catalyst Capital Advisors LLC Has $84,000 Stake in Shopify Inc. $SHOP

Key Points

• Catalyst Capital Advisors LLC significantly reduced its stake in Shopify Inc. by 96.5% during the second quarter, now holding only 724 shares valued at $84,000.
• Several large investors have increased their positions in Shopify; for instance, Tradewinds Capital Management raised its stake by 71.4%, now owning 240 shares worth $28,000.
• Analyst ratings on Shopify have been predominantly positive, with price targets raised by multiple firms, including Mizuho and JMP Securities, reflecting a consensus target price of $153.30.

Catalyst Capital Advisors LLC trimmed its position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 96.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 724 shares of the software maker's stock after selling 20,201 shares during the quarter. Catalyst Capital Advisors LLC's holdings in Shopify were worth $84,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SHOP. Family Legacy Financial Solutions LLC acquired a new position in Shopify during the second quarter worth $25,000. Tradewinds Capital Management LLC raised its stake in Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker's stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Coastline Trust Co acquired a new position in Shopify during the second quarter worth $29,000. Smithfield Trust Co raised its stake in Shopify by 149.2% during 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 in the last quarter. Finally, Dagco Inc. acquired a new position in Shopify during the first quarter worth $30,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on SHOP. Mizuho increased their price objective on Shopify from $85.00 to $150.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. JMP Securities increased their price objective on Shopify from $135.00 to $185.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 7th. Wedbush increased their price objective on Shopify from $115.00 to $160.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Shopify in a research note on Wednesday, October 8th. Finally, National Bankshares raised their target price on Shopify from $180.00 to $200.00 and gave the company an "outperform" rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $153.30.

Shopify Stock Performance

Shares of NASDAQ:SHOP opened at $172.95 on Friday. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $174.74. The firm has a market cap of $224.78 billion, a PE ratio of 96.62, a price-to-earnings-growth ratio of 8.10 and a beta of 2.72. The business has a fifty day moving average of $149.93 and a 200-day moving average of $124.17.

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, beating the consensus estimate of $0.29 by $0.06. The business had revenue of $2.68 billion for 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 quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.26 earnings per share. On average, analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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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