Watts Gwilliam & Co. LLC Buys 4,689 Shares of Shopify Inc. $SHOP

Key Points

• Watts Gwilliam & Co. LLC increased its stake in Shopify by 35%, owning 18,090 shares valued at $1.727 million after acquiring an additional 4,689 shares in the first quarter.
• Several institutional investors significantly adjusted their positions in Shopify, with Mather Group LLC increasing its stake by 127.4% during the same period.
• Shopify reported earnings of $0.35 per share for the last quarter, surpassing analysts' expectations of $0.29 and showing a year-over-year revenue growth of 31.1%.

Watts Gwilliam & Co. LLC lifted its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 35.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,090 shares of the software maker's stock after acquiring an additional 4,689 shares during the period. Watts Gwilliam & Co. LLC's holdings in Shopify were worth $1,727,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SHOP. Mather Group LLC. increased its stake in shares of Shopify by 127.4% in the first quarter. Mather Group LLC. now owns 912 shares of the software maker's stock worth $87,000 after purchasing an additional 511 shares during the period. Dynamic Advisor Solutions LLC bought a new position in shares of Shopify in the first quarter worth about $382,000. GAMMA Investing LLC increased its stake in shares of Shopify by 80.0% in the first quarter. GAMMA Investing LLC now owns 963 shares of the software maker's stock worth $92,000 after purchasing an additional 428 shares during the period. Bessemer Group Inc. increased its stake in shares of Shopify by 3.8% in the first quarter. Bessemer Group Inc. now owns 1,059,585 shares of the software maker's stock worth $101,163,000 after purchasing an additional 38,616 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Shopify by 1.1% in the first quarter. Assenagon Asset Management S.A. now owns 38,732 shares of the software maker's stock worth $3,694,000 after purchasing an additional 432 shares during the period. 69.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SHOP. Scotiabank restated a "sector perform" rating and set a $150.00 price target (up from $115.00) on shares of Shopify in a research note on Thursday, August 7th. National Bankshares raised their price objective on Shopify from $140.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Benchmark reiterated a "buy" rating and issued a $140.00 price objective (up previously from $125.00) on shares of Shopify in a research report on Tuesday, August 5th. Wells Fargo & Company raised their price objective on Shopify from $107.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Finally, BNP Paribas Exane downgraded Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 price objective for the company. in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, Shopify has a consensus rating of "Moderate Buy" and a consensus target price of $148.51.

Shopify Stock Performance

NYSE:SHOP opened at $141.47 on Monday. The stock's 50-day simple moving average is $121.52 and its 200 day simple moving average is $109.02. The company has a market cap of $183.54 billion, a P/E ratio of 91.27, a P/E/G ratio of 4.82 and a beta of 2.63. Shopify Inc. has a 52-week low of $65.86 and a 52-week high of $156.85.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released 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 business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a return on equity of 12.00% and a net margin of 22.74%. Shopify's quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share. As a group, equities analysts predict 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.

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