Total Wealth Planning & Management Inc. Takes $216,000 Position in Shopify Inc. $SHOP

Key Points

• Total Wealth Planning & Management Inc. has acquired a new position in Shopify Inc. by purchasing 1,875 shares valued at approximately $216,000.
• Shopify's stock price has decreased 7.8%, with current trading at $151.02 and a market cap of $196.27 billion.
• The company recently reported earnings of $0.35 EPS, surpassing analysts' expectations, with revenue up 31.1% year-over-year.

Total Wealth Planning & Management Inc. bought a new position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,875 shares of the software maker's stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Commerzbank Aktiengesellschaft FI acquired a new position in Shopify during the 2nd quarter worth $1,603,000. Moseley Investment Management Inc. grew its stake in Shopify by 2.8% during the 2nd quarter. Moseley Investment Management Inc. now owns 3,674 shares of the software maker's stock worth $424,000 after purchasing an additional 100 shares in the last quarter. KRS Capital Management LLC grew its stake in Shopify by 2.5% during the 2nd quarter. KRS Capital Management LLC now owns 4,835 shares of the software maker's stock worth $558,000 after purchasing an additional 120 shares in the last quarter. IFP Advisors Inc grew its stake in Shopify by 113.6% during the 2nd quarter. IFP Advisors Inc now owns 21,750 shares of the software maker's stock worth $2,509,000 after purchasing an additional 11,568 shares in the last quarter. Finally, Callan Family Office LLC acquired a new position in Shopify during the 2nd quarter worth $1,052,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Down 7.8%

Shares of NASDAQ SHOP opened at $151.02 on Friday. The stock has a market cap of $196.27 billion, a PE ratio of 84.37, a price-to-earnings-growth ratio of 7.67 and a beta of 2.72. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $169.69. The business has a 50-day moving average price of $146.61 and a 200 day moving average price of $119.06.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last announced its 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 firm had revenue of $2.68 billion during the quarter, compared to analysts' expectations of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The business's revenue was up 31.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. Sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on SHOP shares. Needham & Company LLC started coverage on Shopify in a research note on Monday, July 14th. They set a "buy" rating and a $135.00 target price for the company. The Goldman Sachs Group lifted their price target on Shopify from $120.00 to $176.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. JMP Securities increased their price objective on Shopify from $135.00 to $185.00 and gave the company a "market outperform" rating in a report on Thursday, August 7th. CIBC boosted their target price on Shopify from $145.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Phillip Securities cut Shopify from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, August 12th. Twenty-two equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $151.95.

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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