TFB Advisors LLC Purchases 3,400 Shares of Shopify Inc. $SHOP

Key Points

• TFB Advisors LLC increased its stake in Shopify Inc. by 96.5%, acquiring an additional 3,400 shares to hold a total of 6,922 shares worth $798,000.
• Shopify reported a quarterly earnings per share of $0.35, surpassing analysts' expectations and generating $2.68 billion in revenue, a 31.1% increase from the previous year.
• Several analysts have raised their price targets for Shopify, with UBS Group now targeting $145.00 and Evercore ISI at $170.00, reflecting heightened investor interest.

TFB Advisors LLC boosted its position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 96.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,922 shares of the software maker's stock after acquiring an additional 3,400 shares during the period. TFB Advisors LLC's holdings in Shopify were worth $798,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock worth $2,252,000 after purchasing an additional 584 shares in the last quarter. GAMMA Investing LLC raised its holdings in Shopify by 80.0% during the first quarter. GAMMA Investing LLC now owns 963 shares of the software maker's stock worth $92,000 after buying an additional 428 shares during the last quarter. Blue Trust Inc. raised its holdings in Shopify by 31.4% during the first quarter. Blue Trust Inc. now owns 2,379 shares of the software maker's stock worth $227,000 after buying an additional 568 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Shopify by 36.6% in the first quarter. Oppenheimer & Co. Inc. now owns 37,010 shares of the software maker's stock valued at $3,534,000 after buying an additional 9,916 shares in the last quarter. Finally, Embree Financial Group grew its holdings in shares of Shopify by 7.6% during the first quarter. Embree Financial Group now owns 2,456 shares of the software maker's stock valued at $234,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Price Performance

Shares of Shopify stock opened at $162.64 on Wednesday. The firm has a market cap of $211.38 billion, a PE ratio of 90.86, a P/E/G ratio of 7.71 and a beta of 2.72. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $169.69. The stock has a fifty day moving average price of $148.61 and a 200-day moving average price of $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 for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The firm's quarterly revenue was up 31.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. As a group, equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SHOP shares. UBS Group raised their price target on shares of Shopify from $110.00 to $145.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. 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 note on Tuesday, July 22nd. Needham & Company LLC began coverage on Shopify in a research report on Monday, July 14th. They set a "buy" rating and a $135.00 target price on the stock. Cantor Fitzgerald set a $156.00 price target on Shopify and gave the company a "neutral" rating in a research report on Wednesday, August 27th. Finally, Evercore ISI raised their price objective on Shopify from $120.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $152.76.

Shopify Company 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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