Three Seasons Wealth LLC Increases Stake in Shopify Inc. $SHOP

Key Points

• Three Seasons Wealth LLC nearly doubled its Shopify stake by purchasing 17,562 additional shares in the second quarter, bringing its holdings to 36,051 shares valued at approximately $4.1 million.
• Institutional investors own 69.27% of Shopify, while analysts maintain a generally positive outlook with a consensus “Moderate Buy” rating and an average price target of $170.84.
• Shopify reported quarterly revenue of $3.58 billion, up 33.7% year over year, and earnings of $0.42 per share, exceeding estimates by $0.02.

Three Seasons Wealth LLC boosted its holdings in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 95.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,051 shares of the software maker's stock after buying an additional 17,562 shares during the quarter. Shopify accounts for 0.4% of Three Seasons Wealth LLC's investment portfolio, making the stock its 24th largest position. Three Seasons Wealth LLC's holdings in Shopify were worth $4,116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SHOP. Kingdom Financial Group LLC. acquired a new position in Shopify during the 4th quarter worth approximately $26,000. Curio Wealth LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $27,000. Evolution Wealth Management Inc. increased its position in Shopify by 203.9% during the first quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker's stock worth $27,000 after buying an additional 155 shares during the period. Graney & King LLC purchased a new stake in Shopify in the 1st quarter valued at $27,000. Finally, Lloyd Advisory Services LLC. purchased a new position in Shopify during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Analyst Ratings Changes

SHOP has been the subject of a number of research reports. Phillip Securities cut shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, August 17th. DA Davidson set a $200.00 price objective on Shopify and gave the company a "buy" rating in a report on Thursday, August 6th. Canaccord Genuity Group set a $180.00 price target on shares of Shopify and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Cantor Fitzgerald raised their price objective on Shopify from $127.00 to $145.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Finally, Zacks Research downgraded shares of Shopify from a "strong-buy" rating to a "hold" rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Shopify presently has an average rating of "Moderate Buy" and a consensus target price of $170.84.

Shopify Trading Down 0.5%

Shares of Shopify stock opened at $145.09 on Friday. The business's fifty day moving average is $134.20 and its two-hundred day moving average is $122.69. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.01. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The firm has a market cap of $186.68 billion, a PE ratio of 98.03, a P/E/G ratio of 2.98 and a beta of 2.61.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. Shopify had a return on equity of 12.58% and a net margin of 14.53%.The company had revenue of $3.58 billion during the quarter. During the same quarter last year, the firm earned $0.69 EPS. The firm's quarterly revenue was up 33.7% compared to the same quarter last year. Analysts anticipate that Shopify Inc. will post 1.45 earnings per share for the current year.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.

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