Shopify Inc. $SHOP Stock Purchased by LifeGoal Investments LLC

Key Points

• LifeGoal Investments increased its Shopify stake by 716.1% in the third quarter, ending with 16,837 shares valued at approximately $2.5 million. Institutional investors collectively own 69.27% of Shopify.
• Shopify reported quarterly revenue of $3.58 billion, up 33.7% year over year, while adjusted earnings of $0.42 per share exceeded analyst expectations of $0.40.
• Shopify shares opened at $164.56, near their 52-week high, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $172.39.

LifeGoal Investments LLC increased its holdings in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 716.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,837 shares of the software maker's stock after purchasing an additional 14,774 shares during the period. LifeGoal Investments LLC's holdings in Shopify were worth $2,497,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. grew its stake in shares of Shopify by 1.9% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 364,072 shares of the software maker's stock worth $54,088,000 after buying an additional 6,800 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Shopify by 17.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,129 shares of the software maker's stock valued at $464,000 after buying an additional 472 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC purchased a new stake in shares of Shopify during the 3rd quarter valued at about $266,000. CoreCap Advisors LLC lifted its holdings in shares of Shopify by 58.6% in the 3rd quarter. CoreCap Advisors LLC now owns 4,430 shares of the software maker's stock valued at $657,000 after acquiring an additional 1,637 shares during the last quarter. Finally, Apella Capital LLC lifted its holdings in shares of Shopify by 22.5% in the 3rd quarter. Apella Capital LLC now owns 2,800 shares of the software maker's stock valued at $415,000 after acquiring an additional 515 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Trading Down 0.9%

SHOP opened at $164.56 on Friday. 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 stock's 50 day moving average price is $144.30 and its 200-day moving average price is $125.88. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19. The stock has a market cap of $211.73 billion, a price-to-earnings ratio of 111.19, a P/E/G ratio of 3.43 and a beta of 2.62.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.58 billion during the quarter. During the same period in the prior year, the business posted $0.69 earnings per share. Shopify's revenue was up 33.7% on a year-over-year basis. On average, equities analysts forecast that Shopify Inc. will post 1.46 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SHOP shares. Sanford C. Bernstein initiated coverage on Shopify in a research report on Thursday, September 10th. They set an "outperform" rating and a $160.00 price objective on the stock. Morgan Stanley cut Shopify from an "overweight" rating to a "buy" rating in a report on Monday, July 13th. DA Davidson set a $200.00 target price on Shopify and gave the company a "buy" rating in a research report on Thursday, August 6th. Wells Fargo & Company restated an "overweight" rating and set a $180.00 price target (up from $144.00) on shares of Shopify in a report on Friday, August 7th. Finally, Bank of America started coverage on Shopify in a research report on Tuesday, July 7th. They issued a "buy" rating and a $150.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $172.39.

About Shopify

Shopify Inc is a commerce technology company that provides tools for businesses to start, operate and grow online and in physical retail environments. Its platform enables merchants to create and manage online stores, sell through multiple channels, process orders and payments, manage inventory and engage with customers.

Shopify's products and services include its core commerce platform, Shopify Plus for larger businesses, Shopify Payments, Shop Pay, point-of-sale solutions and tools for marketing, shipping, analytics and customer management.

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