Venture Visionary Partners LLC Has $8.81 Million Stake in Shopify Inc. $SHOP

Key Points

• Venture Visionary Partners LLC increased its stake in Shopify Inc. by 7.8%, owning 76,397 shares valued at $8.81 million following an additional purchase of 5,515 shares in the second quarter.
• Several analysts raised their price targets for Shopify, with Goldman Sachs increasing it to $176 and JPMorgan Chase & Co. setting it at $179, indicating strong market confidence.
• Shopify reported a quarterly EPS of $0.35, exceeding estimates, with revenues of $2.68 billion, demonstrating a year-over-year increase of 31.1%.

Venture Visionary Partners LLC raised its position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 7.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,397 shares of the software maker's stock after purchasing an additional 5,515 shares during the quarter. Venture Visionary Partners LLC's holdings in Shopify were worth $8,812,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SHOP. Brighton Jones LLC raised its stake 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 valued at $2,252,000 after purchasing an additional 584 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Shopify in the fourth quarter valued at about $314,000. GAMMA Investing LLC increased its position in shares of Shopify by 17,086.4% in the first quarter. GAMMA Investing LLC now owns 91,947 shares of the software maker's stock valued at $8,779,000 after acquiring an additional 91,412 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of Shopify by 54.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,960 shares of the software maker's stock valued at $378,000 after acquiring an additional 1,391 shares during the last quarter. Finally, Fiduciary Alliance LLC increased its position in shares of Shopify by 18.6% in the first quarter. Fiduciary Alliance LLC now owns 16,446 shares of the software maker's stock valued at $1,570,000 after acquiring an additional 2,581 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Robert W. Baird lifted their target price on Shopify from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Stifel Nicolaus lifted their target price on Shopify from $110.00 to $150.00 and gave the company a "hold" rating in a research report on Thursday, August 7th. The Goldman Sachs Group lifted their target price on Shopify from $120.00 to $176.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price target on Shopify from $115.00 to $179.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Arete reissued a "neutral" rating on shares of Shopify in a research report on Wednesday, July 23rd. Twenty-three analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $151.69.

Shopify Stock Up 6.2%

Shares of NASDAQ SHOP opened at $149.00 on Tuesday. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $159.01. The company has a market cap of $193.65 billion, a PE ratio of 83.24, a price-to-earnings-growth ratio of 6.65 and a beta of 2.69. The business's 50 day moving average price is $140.41 and its two-hundred day moving average price is $115.83.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The company had revenue of $2.68 billion during the quarter, compared to analysts' expectations of $2.55 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The business's revenue was up 31.1% on a year-over-year basis. As a group, research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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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