Sapient Capital LLC Takes Position in Shopify Inc. $SHOP

Key Points

• Sapient Capital LLC acquired a new position in Shopify Inc., purchasing 1,767 shares valued at approximately $204,000 during the 2nd quarter.
• Multiple hedge funds have increased their stakes in Shopify, with institutional investors now owning 69.27% of the company's stock.
• Analysts have raised their price targets for Shopify shares, with CIBC increasing its target from $145 to $185 and Goldman Sachs raising it from $120 to $176.

Sapient Capital LLC acquired a new stake in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,767 shares of the software maker's stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Wealth Strategies & Associates grew its holdings in shares of Shopify by 182.8% during the second quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker's stock worth $30,000 after buying an additional 170 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in Shopify during the 4th quarter worth approximately $30,000. Smithfield Trust Co lifted its position in Shopify by 149.2% during the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker's stock worth $30,000 after acquiring an additional 188 shares during the period. Dagco Inc. purchased a new position in shares of Shopify in the 1st quarter valued at approximately $30,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake in shares of Shopify by 86.8% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 355 shares of the software maker's stock valued at $34,000 after purchasing an additional 165 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHOP has been the subject of several analyst reports. Citigroup upped their price target on Shopify from $155.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Robert W. Baird lifted their price objective on shares of Shopify from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Oppenheimer upped their price objective on shares of Shopify from $145.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Cantor Fitzgerald set a $156.00 target price on shares of Shopify and gave the stock a "neutral" rating in a research note on Wednesday, August 27th. Finally, Arete Research upgraded shares of Shopify to a "hold" rating in a research note on Wednesday, July 23rd. Twenty-three research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $151.69.

Shopify Stock Up 2.5%

Shares of NASDAQ SHOP traded up $3.82 during midday trading on Monday, hitting $157.12. The company had a trading volume of 7,010,807 shares, compared to its average volume of 5,403,877. The firm has a market capitalization of $204.20 billion, a price-to-earnings ratio of 87.78, a price-to-earnings-growth ratio of 7.26 and a beta of 2.69. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $159.01. The business has a 50-day simple moving average of $138.13 and a two-hundred day simple moving average of $113.98.

Shopify (NASDAQ: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 23.42% and a return on equity of 12.30%. 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. On average, equities analysts forecast that Shopify Inc. will post 1.12 EPS for the current 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.