Shopify Inc. $SHOP Shares Newly Purchased by Maxi Investments CY Ltd

Key Points

• Maxi Investments CY Ltd purchased 10,000 Shopify shares during the third quarter, valued at approximately $1.48 million. Institutional investors collectively own 69.27% of Shopify’s outstanding stock.
• Shopify shares opened at $168.18, near their 12-month high of $182.19, with a market capitalization of $216.39 billion. The stock trades at a high valuation, including a P/E ratio of 113.64.
• Shopify reported quarterly revenue of $3.58 billion, up 33.7% year over year, and earnings per share of $0.42, exceeding analyst estimates. Wall Street’s consensus rating is “Moderate Buy”, with an average price target of $177.28.

Maxi Investments CY Ltd purchased a new position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,000 shares of the software maker's stock, valued at approximately $1,483,000.

Several other institutional investors have also recently added to or reduced their stakes in SHOP. Evolution Wealth Management Inc. raised its stake in shares of Shopify by 203.9% during the first quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker's stock worth $27,000 after purchasing an additional 155 shares during the last quarter. Graney & King LLC acquired a new stake in shares of Shopify during the first quarter worth $27,000. Fortitude Family Office LLC purchased a new position in Shopify in the 3rd quarter valued at $29,000. Trellis Wealth Advisors LLC purchased a new position in Shopify in the 3rd quarter valued at $37,000. Finally, Roxbury Financial LLC grew its position in Shopify by 171.0% in the 3rd quarter. Roxbury Financial LLC now owns 271 shares of the software maker's stock valued at $40,000 after buying an additional 171 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Stock Down 0.3%

SHOP opened at $168.18 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.35 and a quick ratio of 5.35. The business has a 50 day simple moving average of $151.11 and a 200-day simple moving average of $130.31. The stock has a market capitalization of $216.39 billion, a P/E ratio of 113.64, a P/E/G ratio of 3.48 and a beta of 2.62. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The firm had revenue of $3.58 billion for the quarter. Shopify had a return on equity of 12.58% and a net margin of 14.53%. The company's revenue was up 33.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 EPS. On average, equities analysts anticipate that Shopify Inc. will post 1.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SHOP shares. Rothschild & Co Redburn set a $130.00 price objective on shares of Shopify and gave the company a "neutral" rating in a research note on Tuesday, July 21st. Susquehanna started coverage on shares of Shopify in a research note on Friday, July 10th. They issued a "neutral" rating for the company. BMO Capital Markets set a $165.00 target price on shares of Shopify and gave the stock an "outperform" rating in a research note on Thursday, August 6th. BTIG Research began coverage on shares of Shopify in a report on Friday, July 10th. They issued a "buy" rating on the stock. Finally, Bank of America began coverage on shares of Shopify in a research note on Tuesday, July 7th. They set a "buy" rating and a $150.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $177.28.

Shopify Company Profile

Shopify Inc is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow online and in physical retail environments. Its platform supports online storefronts, product and inventory management, order processing, marketing, analytics and customer engagement.

The company offers subscription-based plans and merchant solutions, including Shopify Payments, Shopify POS, Shopify Capital and tools for shipping, checkout and fulfillment. Shopify also supports sales through multiple channels, such as merchants' own websites, mobile devices, social media and third-party marketplaces.

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand and Scott Lake after the founders developed an online store for snowboarding equipment.

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