KPP Advisory Services LLC Buys Shares of 2,019 Shopify Inc. $SHOP

Key Points

• KPP Advisory Services LLC acquired 2,019 shares of Shopify Inc. during the second quarter, valued at approximately $233,000.
• The stock has a 50-day moving average of $143.53 and a 200-day moving average of $117.76, with a current market cap of $213.79 billion.
• Shopify reported $2.68 billion in revenue for the quarter, exceeding analyst expectations, and achieved $0.35 EPS, beating consensus estimates by $0.06.

KPP Advisory Services LLC purchased a new position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,019 shares of the software maker's stock, valued at approximately $233,000.

A number of other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in 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 worth $48,827,000 after purchasing an additional 267,271 shares during the last quarter. Worth Asset Management LLC acquired a new position in Shopify in the second quarter worth approximately $236,000. Avior Wealth Management LLC raised its position in Shopify by 32.6% during the second quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker's stock valued at $1,570,000 after acquiring an additional 3,347 shares in the last quarter. Integrity Alliance LLC. bought a new position in Shopify during the first quarter valued at approximately $211,000. Finally, Jacobs & Co. CA acquired a new stake in Shopify in the second quarter valued at approximately $285,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SHOP shares. ATB Capital downgraded shares of Shopify to a "sector perform" rating in a report on Thursday, August 7th. Needham & Company LLC assumed coverage on Shopify in a report on Monday, July 14th. They set a "buy" rating and a $135.00 target price on the stock. Zacks Research raised Shopify to a "hold" rating in a research report on Tuesday, August 12th. BMO Capital Markets increased their price objective on Shopify from $120.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Mizuho boosted their target price on Shopify from $85.00 to $150.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Twenty-two research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Shopify presently has a consensus rating of "Hold" and a consensus target price of $150.59.

Shopify Stock Performance

NASDAQ SHOP opened at $164.50 on Tuesday. The stock has a 50-day simple moving average of $143.53 and a 200 day simple moving average of $117.76. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $169.69. The stock has a market capitalization of $213.79 billion, a PE ratio of 91.90, a P/E/G ratio of 7.64 and a beta of 2.72.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last released its earnings results 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. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the firm posted $0.26 EPS. The company's revenue was up 31.1% on a year-over-year basis. As a group, equities research analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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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