Stephens Inc. AR Sells 1,781 Shares of Shopify Inc. $SHOP

Key Points

• Stephens Inc. AR has reduced its stake in Shopify Inc. by 3.9%, selling 1,781 shares to hold 44,318 shares in total, valued at about $5.11 million.
• Shopify reported $0.35 EPS in its recent earnings, surpassing expectations of $0.29, with revenue of $2.68 billion, reflecting a 31.1% increase year-over-year.
• Analyst ratings for Shopify are generally positive, with a consensus rating of "Moderate Buy" and an average price target of around $152.76.

Stephens Inc. AR lowered its position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,318 shares of the software maker's stock after selling 1,781 shares during the period. Stephens Inc. AR's holdings in Shopify were worth $5,112,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. Family Legacy Financial Solutions LLC purchased a new stake in Shopify in the second quarter worth approximately $25,000. Tradewinds Capital Management LLC boosted its stake in shares of Shopify by 71.4% during the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker's stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Coastline Trust Co purchased a new position in shares of Shopify during the 2nd quarter worth $29,000. Smithfield Trust Co boosted its stake in shares of 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 last quarter. Finally, Dagco Inc. purchased a new position in shares of Shopify during the 1st quarter worth $30,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Trading Down 1.3%

Shares of Shopify stock opened at $162.64 on Wednesday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $169.69. The firm has a market capitalization of $211.38 billion, a price-to-earnings ratio of 90.86, a PEG ratio of 7.71 and a beta of 2.72. The firm's 50 day simple moving average is $148.61 and its two-hundred day simple moving average is $122.30.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. The business had revenue of $2.68 billion for 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%. Shopify's revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.26 EPS. On average, sell-side analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI lifted their price target on shares of Shopify from $120.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. UBS Group lifted their price target on shares of Shopify from $110.00 to $145.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Oppenheimer restated an "outperform" rating and issued a $149.00 target price on shares of Shopify in a report on Tuesday, September 30th. Arete restated a "neutral" rating on shares of Shopify in a report on Wednesday, July 23rd. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $150.00 price target (up from $115.00) on shares of Shopify in a research note 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 given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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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