Vontobel Holding Ltd. Purchases 15,376 Shares of Shopify Inc. $SHOP

Key Points

• Vontobel Holding Ltd. increased its stake in Shopify Inc. by 26.4% in Q2, acquiring an additional 15,376 shares, bringing their total holdings to 73,598 shares valued at approximately $8.49 million.
• Shopify's earnings per share of $0.35 exceeded expectations by $0.06, with a year-over-year revenue increase of 31.1% to $2.68 billion.
• Analyst ratings for Shopify include 22 "Buy" ratings, 23 "Hold" ratings, and one "Sell," with a consensus price target of $151.95.

Vontobel Holding Ltd. lifted its stake in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 26.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,598 shares of the software maker's stock after acquiring an additional 15,376 shares during the quarter. Vontobel Holding Ltd.'s holdings in Shopify were worth $8,490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SHOP. Hummer Financial Advisory Services Inc increased its holdings in Shopify by 3.8% during the 2nd quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker's stock worth $299,000 after purchasing an additional 95 shares during the period. Salem Investment Counselors Inc. lifted its stake in Shopify by 16.7% in the second quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker's stock worth $81,000 after acquiring an additional 100 shares during the period. Quadcap Wealth Management LLC lifted its stake in Shopify by 0.9% in the first quarter. Quadcap Wealth Management LLC now owns 11,133 shares of the software maker's stock worth $1,063,000 after acquiring an additional 103 shares during the period. Centurion Wealth Management LLC lifted its stake in Shopify by 1.7% in the second quarter. Centurion Wealth Management LLC now owns 6,339 shares of the software maker's stock worth $731,000 after acquiring an additional 103 shares during the period. Finally, Fullcircle Wealth LLC lifted its stake in Shopify by 2.7% in the first quarter. Fullcircle Wealth LLC now owns 4,240 shares of the software maker's stock worth $418,000 after acquiring an additional 110 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of research reports. Truist Financial upped their price objective on shares of Shopify from $95.00 to $150.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Shopify in a research note on Wednesday. Citigroup upped their price objective on shares of Shopify from $155.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Wedbush upped their price objective on shares of Shopify from $115.00 to $160.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Atb Cap Markets lowered shares of Shopify from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 6th. Twenty-two analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Shopify has a consensus rating of "Hold" and a consensus price target of $151.95.

Shopify Stock Down 1.5%

Shares of Shopify stock opened at $163.87 on Friday. The firm has a market capitalization of $212.98 billion, a P/E ratio of 91.55, a PEG ratio of 7.79 and a beta of 2.72. The company has a 50 day moving average price of $145.96 and a 200 day moving average price of $118.77. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $169.69.

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

About Shopify

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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