Texas Capital Bank Wealth Management Services Inc Makes New Investment in Shopify Inc. $SHOP

Key Points

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Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 9,247 shares of the software maker's stock, valued at approximately $883,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOP. Fourth Dimension Wealth LLC bought a new position in Shopify during the fourth quarter worth about $30,000. Smithfield Trust Co lifted its holdings in Shopify by 149.2% during the first quarter. Smithfield Trust Co now owns 314 shares of the software maker's stock worth $30,000 after acquiring an additional 188 shares in the last quarter. Dagco Inc. bought a new position in Shopify during the first quarter worth about $30,000. Cary Street Partners Investment Advisory LLC lifted its holdings in Shopify by 86.8% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 355 shares of the software maker's stock worth $34,000 after acquiring an additional 165 shares in the last quarter. Finally, Accent Capital Management LLC bought a new position in Shopify during the first quarter worth about $46,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Up 1.2%

Shopify stock opened at $143.11 on Tuesday. Shopify Inc. has a 12 month low of $65.86 and a 12 month high of $156.85. The stock's 50 day moving average is $122.22 and its 200-day moving average is $109.20. The company has a market capitalization of $185.67 billion, a price-to-earnings ratio of 92.33, a PEG ratio of 4.82 and a beta of 2.63.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. Shopify had a return on equity of 12.00% and a net margin of 22.74%. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the business earned $0.26 earnings per share. The firm's revenue for the quarter was up 31.1% on a year-over-year basis. As a group, equities research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SHOP. BMO Capital Markets lifted their target price on Shopify from $120.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Phillip Securities lowered Shopify from a "moderate buy" rating to a "hold" rating in a report on Tuesday, August 12th. Bank of America boosted their price target on Shopify from $110.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, August 7th. BNP Paribas Exane lowered Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 price target on the stock. in a report on Monday, May 5th. Finally, Evercore ISI boosted their price target on Shopify from $120.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, August 8th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.51.

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.

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