Smith Thornton Advisors LLC Acquires Shares of 2,006 Shopify Inc. $SHOP

Key Points

• Smith Thornton Advisors LLC has acquired 2,006 shares of Shopify Inc., valued at approximately $231,000, during the 2nd quarter.
• Shopify's stock has seen a price increase of 4.4%, with current trading prices around $164.71, marking a significant rise from its 12-month low of $69.84.
• Several analysts have raised their price objectives for Shopify, with targets reaching as high as $185.00, reflecting a strong consensus rating of "Moderate Buy".

Smith Thornton Advisors LLC acquired a new stake in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,006 shares of the software maker's stock, valued at approximately $231,000.

Several other institutional investors have also recently modified their holdings of SHOP. Hummer Financial Advisory Services Inc raised its position in Shopify by 3.8% in the second quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker's stock valued at $299,000 after purchasing an additional 95 shares during the period. Salem Investment Counselors Inc. raised its position in Shopify by 16.7% in the second quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker's stock valued at $81,000 after purchasing an additional 100 shares during the period. Moseley Investment Management Inc. grew its stake in Shopify by 2.8% in the second quarter. Moseley Investment Management Inc. now owns 3,674 shares of the software maker's stock worth $424,000 after purchasing an additional 100 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker's stock valued at $28,000 after acquiring an additional 100 shares during the period. Finally, Quadcap Wealth Management LLC boosted its position in shares of Shopify by 0.9% during the first quarter. Quadcap Wealth Management LLC now owns 11,133 shares of the software maker's stock worth $1,063,000 after buying an additional 103 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Trading Up 4.4%

Shares of Shopify stock opened at $164.71 on Tuesday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $169.69. The company has a market cap of $214.07 billion, a P/E ratio of 92.02, a PEG ratio of 7.39 and a beta of 2.72. The company's fifty day simple moving average is $148.34 and its two-hundred day simple moving average is $122.02.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last posted its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.68 billion for the quarter, compared to analysts' expectations of $2.55 billion. During the same quarter in the prior year, the business earned $0.26 EPS. The business's revenue for the quarter was up 31.1% compared to the same quarter last year. Analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. National Bankshares upped their price objective on shares of Shopify from $140.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Mizuho raised their price objective on shares of Shopify from $85.00 to $150.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. JMP Securities lifted their price objective on shares of Shopify from $135.00 to $185.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Shopify from $115.00 to $179.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Wedbush upped their price objective on shares of Shopify from $115.00 to $160.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twenty-two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $152.76.

About Shopify

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.

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