Trilogy Capital Inc. Takes $234,000 Position in Shopify Inc. $SHOP

Trilogy Capital Inc. purchased a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 2,030 shares of the software maker’s stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Family Legacy Financial Solutions LLC purchased a new stake in shares of Shopify during the second quarter valued at approximately $25,000. Coastline Trust Co acquired a new stake in Shopify during the 2nd quarter valued at $29,000. Smithfield Trust Co increased its stake in Shopify by 149.2% during the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock worth $30,000 after buying an additional 188 shares during the period. Dagco Inc. acquired a new position in Shopify in the 1st quarter worth $30,000. Finally, Global Wealth Strategies & Associates boosted its position in Shopify by 182.8% in the 2nd quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock valued at $30,000 after buying an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

SHOP has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their target price on Shopify from $115.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. CIBC upped their target price on Shopify from $145.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Bank of America raised their price target on shares of Shopify from $110.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Cantor Fitzgerald set a $156.00 price target on shares of Shopify and gave the company a “neutral” rating in a report on Wednesday, August 27th. Finally, National Bankshares raised their price objective on shares of Shopify from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Twenty-three analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.83.

Shopify Stock Performance

Shopify stock opened at $151.30 on Friday. The company has a 50-day simple moving average of $142.04 and a 200-day simple moving average of $116.66. Shopify Inc. has a one year low of $69.84 and a one year high of $159.01. The firm has a market capitalization of $196.64 billion, a P/E ratio of 84.53, a P/E/G ratio of 7.09 and a beta of 2.72.

Shopify (NASDAQ:SHOP) (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 the consensus estimate of $0.29 by $0.06. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.26 earnings per share. As a group, sell-side analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current 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.