Three Seasons Wealth LLC Has $1.88 Million Stock Position in Shopify Inc. $SHOP

Key Points

• Three Seasons Wealth LLC increased its holdings in Shopify by 12.5%, now owning 16,268 shares, valued at approximately $1.88 million.
• Several analysts upgraded Shopify's stock, with Mizuho increasing its price objective from $85 to $150 and Citigroup setting a target of $195, maintaining a consensus rating of "Moderate Buy".
• Shopify reported $2.68 billion in revenue for the last quarter, exceeding analyst expectations, and showed a 31.1% increase year-over-year, alongside an earnings per share of $0.35.

Three Seasons Wealth LLC grew its stake in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 12.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,268 shares of the software maker's stock after purchasing an additional 1,811 shares during the quarter. Shopify comprises approximately 0.2% of Three Seasons Wealth LLC's holdings, making the stock its 19th largest holding. Three Seasons Wealth LLC's holdings in Shopify were worth $1,877,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Shopify by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker's stock valued at $4,563,106,000 after buying an additional 882,168 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Shopify by 19.7% in the 1st quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker's stock valued at $822,745,000 after buying an additional 1,426,406 shares in the last quarter. Nuveen LLC bought a new stake in shares of Shopify in the 1st quarter valued at $667,392,000. Canada Pension Plan Investment Board increased its position in shares of Shopify by 34.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker's stock valued at $565,504,000 after buying an additional 1,522,573 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Shopify by 21.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker's stock valued at $539,382,000 after buying an additional 979,598 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of recent analyst reports. Loop Capital cut shares of Shopify from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research report on Tuesday, July 22nd. JMP Securities increased their target price on Shopify from $135.00 to $185.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. The Goldman Sachs Group increased their target price on Shopify from $120.00 to $176.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Citigroup increased their target price on Shopify from $155.00 to $195.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, UBS Group increased their target price on Shopify from $110.00 to $145.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Twenty-three analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Shopify has an average rating of "Moderate Buy" and a consensus target price of $151.69.

Shopify Stock Up 0.8%

Shares of SHOP traded up $1.19 during mid-day trading on Friday, hitting $153.30. 8,809,955 shares of the company's stock were exchanged, compared to its average volume of 5,345,718. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $156.85. The stock's 50-day simple moving average is $137.32 and its 200-day simple moving average is $113.45. The firm has a market cap of $199.24 billion, a price-to-earnings ratio of 85.64, a price-to-earnings-growth ratio of 7.26 and a beta of 2.69.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last announced its earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $2.68 billion for the quarter, compared to analysts' expectations of $2.55 billion. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The business's revenue for the quarter was up 31.1% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. Analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.