Cwm LLC Acquires 2,939 Shares of Shopify Inc. $SHOP

Key Points

• Cwm LLC increased its stake in Shopify Inc. by 22.8%, acquiring an additional 2,939 shares during the second quarter, bringing its total holdings to 15,840 shares valued at approximately $1.83 million.
• Shopify reported $0.35 earnings per share for the last quarter, exceeding analysts' expectations of $0.29, with revenues reaching $2.68 billion, a 31.1% year-over-year increase.
• Analysts show strong confidence in Shopify, with firms like Evercore ISI and Zacks upgrading their ratings, while the stock has an average target price of $152.76 and a majority consensus rating of "Moderate Buy".

Cwm LLC boosted its holdings in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 22.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,840 shares of the software maker's stock after acquiring an additional 2,939 shares during the quarter. Cwm LLC's holdings in Shopify were worth $1,827,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Shopify by 171.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker's stock valued at $48,827,000 after purchasing an additional 267,271 shares during the last quarter. Worth Asset Management LLC bought a new stake in shares of Shopify in the 2nd quarter valued at $236,000. Avior Wealth Management LLC boosted its stake in shares of Shopify by 32.6% in the 2nd quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker's stock valued at $1,570,000 after purchasing an additional 3,347 shares during the last quarter. 111 Capital bought a new stake in shares of Shopify in the 2nd quarter valued at $1,719,000. Finally, Integrity Alliance LLC. bought a new stake in shares of Shopify in the 1st quarter valued at $211,000. 69.27% of the stock is owned by institutional investors.

Shopify Trading Up 0.8%

SHOP opened at $157.76 on Monday. The company's fifty day moving average price is $148.00 and its two-hundred day moving average price is $121.40. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $169.69. The company has a market cap of $205.03 billion, a price-to-earnings ratio of 88.13, a PEG ratio of 7.39 and a beta of 2.72.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SHOP. Evercore ISI upped their price objective on shares of Shopify from $120.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Zacks Research upgraded shares of Shopify from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 14th. Arete reiterated a "neutral" rating on shares of Shopify in a research report on Wednesday, July 23rd. Benchmark reiterated a "buy" rating and set a $140.00 target price (up previously from $125.00) on shares of Shopify in a research report on Tuesday, August 5th. Finally, UBS Group boosted their target price on shares of Shopify from $110.00 to $145.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Shopify presently has an average rating of "Moderate Buy" and an average target price of $152.76.

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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