Moody Lynn & Lieberson LLC Invests $3.93 Million in Shopify Inc. $SHOP

Key Points

• Moody Lynn & Lieberson LLC invested approximately $3.93 million in Shopify Inc. by acquiring 34,052 shares during the 2nd quarter.
• Shopify reported a quarterly earnings per share (EPS) of $0.35, exceeding analysts’ expectations of $0.29 and showing a 31.1% increase in revenue year-over-year.
• Analysts have a consensus price target of $151.69 for Shopify’s stock, with the majority rating it as a "Moderate Buy."

Moody Lynn & Lieberson LLC acquired a new stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 34,052 shares of the software maker's stock, valued at approximately $3,928,000.

Several other large investors also recently bought and sold shares of SHOP. Vanguard Group Inc. grew its stake in shares of Shopify by 1.9% in the first quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker's stock worth $4,563,106,000 after acquiring an additional 882,168 shares during the period. Mackenzie Financial Corp grew its position in Shopify by 19.7% in the 1st quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker's stock worth $822,745,000 after purchasing an additional 1,426,406 shares during the period. Nuveen LLC purchased a new stake in Shopify during the 1st quarter valued at $667,392,000. Canada Pension Plan Investment Board lifted its holdings in shares of Shopify by 34.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker's stock valued at $565,504,000 after buying an additional 1,522,573 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Shopify by 21.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker's stock worth $539,382,000 after buying an additional 979,598 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

SHOP opened at $140.25 on Monday. The stock has a market cap of $182.28 billion, a price-to-earnings ratio of 78.35, a price-to-earnings-growth ratio of 6.65 and a beta of 2.69. The firm's fifty day moving average is $140.00 and its 200 day moving average is $115.45. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $159.01.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the business posted $0.26 EPS. Shopify's revenue for the quarter was up 31.1% compared to the same quarter last year. On average, equities research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SHOP shares. Benchmark reissued a "buy" rating and issued a $140.00 target price (up previously from $125.00) on shares of Shopify in a report on Tuesday, August 5th. Oppenheimer upped their target price on shares of Shopify from $145.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Phillip Securities cut shares of Shopify from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, August 12th. Mizuho upped their price objective on Shopify from $85.00 to $150.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, DA Davidson lifted their target price on Shopify from $125.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Twenty-three analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $151.69.

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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