Keystone Global Partners LLC Makes New $338,000 Investment in Shopify Inc. (NYSE:SHOP)

Key Points

• Keystone Global Partners LLC has made a new investment in Shopify Inc., purchasing 3,540 shares valued at approximately $338,000 as reported in its recent SEC filing.
• Shopify's stock is currently down 1.9%, with a market cap of $183.54 billion and a price-to-earnings ratio of **91.27**.
• Analyst ratings for Shopify vary, with the stock receiving a consensus rating of "Moderate Buy" and a price target averaging $148.51 following various recent rating changes.

Keystone Global Partners LLC purchased a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,540 shares of the software maker's stock, valued at approximately $338,000.

Several other institutional investors have also modified their holdings of SHOP. Brighton Jones LLC lifted its position in shares of Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock worth $2,252,000 after purchasing an additional 584 shares during the last quarter. United Capital Financial Advisors LLC lifted its position in shares of Shopify by 4.0% during the 4th quarter. United Capital Financial Advisors LLC now owns 11,228 shares of the software maker's stock worth $1,194,000 after purchasing an additional 430 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Shopify by 37.4% during the 4th quarter. NewEdge Advisors LLC now owns 59,468 shares of the software maker's stock worth $6,323,000 after purchasing an additional 16,194 shares during the last quarter. Forum Financial Management LP lifted its position in shares of Shopify by 70.8% during the 4th quarter. Forum Financial Management LP now owns 7,125 shares of the software maker's stock worth $758,000 after purchasing an additional 2,953 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Shopify by 5.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 496,188 shares of the software maker's stock worth $52,761,000 after purchasing an additional 26,416 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Stock Down 1.9%

Shares of Shopify stock opened at $141.47 on Friday. Shopify Inc. has a 52-week low of $65.86 and a 52-week high of $156.85. The company's 50-day simple moving average is $121.52 and its 200-day simple moving average is $109.09. The firm has a market cap of $183.54 billion, a price-to-earnings ratio of 91.27, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its earnings results 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 22.74% and a return on equity of 12.00%. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the business posted $0.26 earnings per share. The firm's revenue for the quarter was up 31.1% compared to the same quarter last year. Equities research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

SHOP has been the subject of several recent analyst reports. ATB Capital cut shares of Shopify to a "sector perform" rating in a research report on Thursday, August 7th. TD Securities lifted 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. National Bankshares lifted their price objective on shares of Shopify from $140.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Arete Research raised shares of Shopify to a "hold" rating in a research report on Wednesday, July 23rd. Finally, Atb Cap Markets cut shares of Shopify from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $148.51.

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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