Chicago Capital LLC bought a new position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,075 shares of the software maker's stock, valued at approximately $239,000.
Other large investors have also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC bought a new position in Shopify during the 2nd quarter worth about $25,000. Coastline Trust Co bought a new position in Shopify during the 2nd quarter worth about $29,000. Smithfield Trust Co increased its holdings in Shopify by 149.2% during the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker's stock worth $30,000 after purchasing an additional 188 shares in the last quarter. Dagco Inc. bought a new position in Shopify during the 1st quarter worth about $30,000. Finally, Global Wealth Strategies & Associates increased its holdings in Shopify by 182.8% during 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 in the last quarter. Institutional investors own 69.27% of the company's stock.
Shopify Stock Performance
Shopify stock opened at $149.57 on Thursday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $159.01. The stock has a market capitalization of $194.39 billion, a P/E ratio of 83.56, a PEG ratio of 7.04 and a beta of 2.72. The stock has a 50-day simple moving average of $141.46 and a 200 day simple moving average of $116.29.
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, topping analysts' consensus estimates of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The business had revenue of $2.68 billion during the quarter, compared to analysts' expectations of $2.55 billion. During the same quarter last year, the company posted $0.26 earnings per share. Shopify's quarterly revenue was up 31.1% on a year-over-year basis. Research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.
Analyst Ratings Changes
A number of research firms have issued reports on SHOP. Arete reiterated a "neutral" rating on shares of Shopify in a report on Wednesday, July 23rd. Zacks Research upgraded shares of Shopify to a "hold" rating in a research note on Tuesday, August 12th. Scotiabank restated a "sector perform" rating and issued a $150.00 price objective (up previously from $115.00) on shares of Shopify in a report on Thursday, August 7th. Robert W. Baird raised their price objective on Shopify from $110.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Finally, Bank of America raised their price objective on Shopify from $110.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Twenty-three research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.83.
Check Out Our Latest Research Report on Shopify
Shopify Company Profile
(
Free Report)
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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