Shopify Inc. $SHOP Shares Sold by Toth Financial Advisory Corp

Key Points

• Toth Financial Advisory Corp reduced its stake in Shopify by 48.0% in the second quarter, now holding 4,561 shares valued at approximately $526,000.
• Shopify reported $2.68 billion in revenue for the last quarter, surpassing analyst estimates, and achieved an earnings per share (EPS) of $0.35, beating expectations of $0.29.
• The stock has gained 0.8% and is trading at $153.30, with a consensus rating of "Moderate Buy" among analysts, indicating strong market interest.

Toth Financial Advisory Corp trimmed its holdings in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 48.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,561 shares of the software maker's stock after selling 4,214 shares during the quarter. Toth Financial Advisory Corp's holdings in Shopify were worth $526,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Nuveen LLC purchased a new position in shares of Shopify in the 1st quarter valued at approximately $667,392,000. Jennison Associates LLC grew its position in shares of Shopify by 324.3% in the first quarter. Jennison Associates LLC now owns 5,280,781 shares of the software maker's stock valued at $504,209,000 after purchasing an additional 4,036,326 shares during the period. Canada Pension Plan Investment Board grew its position in Shopify by 34.4% during the first quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker's stock valued at $565,504,000 after acquiring an additional 1,522,573 shares during the period. Mackenzie Financial Corp boosted its position in shares of Shopify by 19.7% in the first quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker's stock worth $822,745,000 after buying an additional 1,426,406 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Shopify by 24.6% in the first quarter. Alliancebernstein L.P. now owns 5,554,420 shares of the software maker's stock worth $530,336,000 after acquiring an additional 1,094,840 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Analysts Set New Price Targets

SHOP has been the subject of a number of recent research reports. Loop Capital downgraded Shopify from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research report on Tuesday, July 22nd. National Bankshares increased their price objective on Shopify from $140.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. 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. Benchmark reiterated a "buy" rating and issued a $140.00 price target (up from $125.00) on shares of Shopify in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada upped their price target on shares of Shopify from $145.00 to $170.00 and gave the stock an "outperform" rating in a 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.69.

Shopify Stock Up 2.5%

SHOP stock traded up $3.82 during 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. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $159.01. The firm has a market capitalization of $204.20 billion, a P/E ratio of 87.78, a PEG ratio of 7.26 and a beta of 2.69. The company has a 50 day simple moving average of $138.13 and a 200-day simple moving average of $113.98.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.55 billion. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The firm's revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. Sell-side analysts forecast that Shopify Inc. will post 1.12 earnings per share 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.