RFG Advisory LLC Buys 8,010 Shares of Shopify Inc. $SHOP

Key Points

• RFG Advisory increased its Shopify stake by 31.2% in the second quarter, acquiring 8,010 shares for a total holding of 33,711 shares valued at approximately $3.85 million. Institutional investors own about 69.27% of Shopify’s stock.
• Shopify reported quarterly revenue of $3.58 billion, up 33.7% year over year, and earnings of $0.42 per share, exceeding analyst expectations of $0.40.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $171.65; recent targets from JPMorgan and Citizens JMP reached $185.

RFG Advisory LLC raised its stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 31.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,711 shares of the software maker's stock after buying an additional 8,010 shares during the quarter. RFG Advisory LLC's holdings in Shopify were worth $3,849,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kingdom Financial Group LLC. bought a new stake in Shopify during the 4th quarter worth approximately $26,000. Curio Wealth LLC bought a new position in Shopify in the 4th quarter valued at $27,000. Evolution Wealth Management Inc. grew its position in shares of Shopify by 203.9% during the 1st quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker's stock valued at $27,000 after purchasing an additional 155 shares in the last quarter. Graney & King LLC purchased a new position in shares of Shopify during the 1st quarter valued at $27,000. Finally, Lloyd Advisory Services LLC. bought a new position in shares of Shopify in the fourth quarter worth $31,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

NASDAQ SHOP opened at $126.79 on Thursday. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.35 and a current ratio of 5.35. The company has a market capitalization of $163.13 billion, a P/E ratio of 85.67, a P/E/G ratio of 2.73 and a beta of 2.61. The company has a fifty day moving average of $135.32 and a 200-day moving average of $123.09.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last released its earnings results on Wednesday, August 5th. The software maker reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. Shopify had a return on equity of 12.58% and a net margin of 14.53%.The business had revenue of $3.58 billion for the quarter. During the same period in the prior year, the company earned $0.69 EPS. The firm's revenue was up 33.7% compared to the same quarter last year. As a group, equities research analysts predict that Shopify Inc. will post 1.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on SHOP. Truist Financial set a $180.00 price objective on Shopify and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Rothschild & Co Redburn set a $130.00 target price on Shopify and gave the stock a "neutral" rating in a research report on Tuesday, July 21st. JPMorgan Chase & Co. upped their target price on Shopify from $155.00 to $185.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. UBS Group reaffirmed a "neutral" rating and issued a $145.00 price target (up from $130.00) on shares of Shopify in a report on Thursday, August 6th. Finally, Citizens Jmp lifted their price target on Shopify from $150.00 to $185.00 and gave the company a "market outperform" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $171.65.

Key Headlines Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Tailwind Labs acquisition: Shopify acquired Tailwind Labs, which described the transaction as providing a “stable, long-term home.” The deal could strengthen Shopify’s developer, design, and commerce ecosystem, although its financial impact was not disclosed. Shopify acquires Tailwind Labs Tailwind finds stable long-term home with Shopify acquisition
• Positive Sentiment: AI and payments remain growth opportunities: Coverage highlights Shopify’s push into artificial intelligence, while activity surrounding a commerce payments protocol connected with Shopify and Coinbase suggests continued experimentation with blockchain-based payments. These developments could support merchant engagement and transaction growth, but their contribution to earnings remains uncertain. How Shopify's Push into AI Is Working Out Commerce Payments Protocol sees surge in volume on Base network
• Neutral Sentiment: Analyst support: Broker views continue to frame Shopify as a potentially attractive investment, but the articles do not identify a material new rating change or price-target revision. Shopify Is Considered a Good Investment by Brokers
• Negative Sentiment: Sector-specific selling: Shopify and Etsy declined more than the broader e-commerce group, suggesting investors were targeting certain platform stocks rather than broadly abandoning online retail. Shopify and Etsy E-Commerce Selloff
• Negative Sentiment: Operational concern: A reported Shopify outage may have raised short-term concerns about merchant reliability, though no lasting business impact was reported. Shopify outage reported

About Shopify

Shopify Inc NASDAQ: SHOP is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow retail operations. Its platform enables merchants to create and manage online stores, sell through social media and other digital channels, and support in-person sales through Shopify's point-of-sale solutions.

Shopify's products and services include online storefront and website-building tools, payment processing through Shopify Payments, point-of-sale hardware and software, inventory and order management, shipping and fulfillment tools, marketing features, analytics, and financing services for eligible merchants.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.