JSF Financial LLC Purchases Shares of 2,388 Shopify Inc. $SHOP

Key Points

• JSF Financial LLC has acquired a new stake in Shopify Inc. by purchasing 2,388 shares, valued at approximately $275,000.
• Multiple institutional investors have increased their holdings or established new positions in Shopify, indicating growing interest in the company, which is now 69.27% owned by institutional investors and hedge funds.
• Shopify's stock price has shown strong performance, achieving a one-year high of $162.60 and a robust quarterly revenue growth of 31.1% year-over-year.

JSF Financial LLC purchased a new stake in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,388 shares of the software maker's stock, valued at approximately $275,000.

A number of other large investors have also made changes to their positions in SHOP. Family Legacy Financial Solutions LLC bought a new position in Shopify during the second quarter valued at about $25,000. Coastline Trust Co acquired a new stake in shares of Shopify during the 2nd quarter worth approximately $29,000. Global Wealth Strategies & Associates grew its holdings in shares of 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. Smithfield Trust Co lifted its position 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 purchasing an additional 188 shares during the period. Finally, Dagco Inc. bought a new position in Shopify in the first quarter worth $30,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on SHOP shares. Cantor Fitzgerald set a $156.00 target price on Shopify and gave the stock a "neutral" rating in a research report on Wednesday, August 27th. TD Securities increased their price objective on shares of Shopify from $130.00 to $156.00 and gave the company a "hold" rating in a research note on Friday. Weiss Ratings reissued a "hold (c)" rating on shares of Shopify in a research note on Saturday, September 27th. National Bankshares upped their target price on shares of Shopify from $140.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, Evercore ISI lifted their price objective on Shopify from $120.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Twenty-two equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $150.59.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $161.14 on Friday. Shopify Inc. has a one year low of $69.84 and a one year high of $162.60. The stock has a market cap of $209.43 billion, a price-to-earnings ratio of 90.02, a P/E/G ratio of 7.64 and a beta of 2.72. The company has a 50 day moving average of $142.78 and a 200-day moving average of $117.23.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. The firm had revenue of $2.68 billion for the quarter, compared to analysts' expectations of $2.55 billion. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The business's revenue for the quarter was up 31.1% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. Equities research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current 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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