Foster Group Inc. Invests $215,000 in Shopify Inc. $SHOP

Key Points

• Foster Group Inc. has invested approximately $215,000 in Shopify Inc. by acquiring 1,865 shares during the second quarter, according to its recent 13F filing.
• The company reported a quarterly revenue of $2.68 billion, exceeding analyst expectations of $2.55 billion, and posted an EPS of $0.35, beating estimates by $0.06.
• Shopify shares are currently rated as a "Moderate Buy" by analysts, with a consensus price target of $151.69 following several upgrades from different brokerages.

Foster Group Inc. purchased a new stake in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,865 shares of the software maker's stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SHOP. Worth Asset Management LLC acquired a new position in shares of Shopify during the 2nd quarter worth $236,000. Integrity Alliance LLC. acquired a new position in shares of Shopify in the first quarter worth approximately $211,000. Jacobs & Co. CA acquired a new position in shares of Shopify in the 2nd quarter worth approximately $285,000. Ascent Group LLC acquired a new position in Shopify in the first quarter valued at $513,000. Finally, Focus Partners Wealth lifted its stake in shares of Shopify by 7.4% in the 1st quarter. Focus Partners Wealth now owns 288,722 shares of the software maker's stock valued at $27,567,000 after purchasing an additional 19,908 shares during the period. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Stock Performance

SHOP opened at $157.12 on Tuesday. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $159.01. The firm has a 50-day moving average of $138.13 and a 200 day moving average of $113.98. The firm has a market cap of $204.20 billion, a P/E ratio of 87.78, a PEG ratio of 7.26 and a beta of 2.69.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data 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 net margin of 23.42% and a return on equity of 12.30%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The company's revenue for the quarter was up 31.1% on a year-over-year basis. Equities research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SHOP. Cantor Fitzgerald set a $156.00 target price on Shopify and gave the stock a "neutral" rating in a report on Wednesday, August 27th. TD Securities raised their price objective on shares of Shopify from $145.00 to $170.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Evercore ISI increased their target price on shares of Shopify from $120.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Zacks Research upgraded shares of Shopify to a "hold" rating in a report on Tuesday, August 12th. Finally, Atb Cap Markets downgraded shares of Shopify from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 6th. Twenty-three analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.69.

Shopify 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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