2,388 Shares in Shopify Inc. $SHOP Acquired by JSF Financial LLC

JSF Financial LLC acquired a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,388 shares of the software maker’s stock, valued at approximately $275,000.

Several other hedge funds also recently bought and sold shares of SHOP. Brighton Jones LLC raised its holdings in Shopify by 2.8% in the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after purchasing an additional 584 shares during the period. GAMMA Investing LLC increased its position in shares of Shopify by 17,086.4% in the 1st quarter. GAMMA Investing LLC now owns 91,947 shares of the software maker’s stock valued at $8,779,000 after buying an additional 91,412 shares in the last quarter. Signal Advisors Wealth LLC grew its stake in Shopify by 7.8% in the first quarter. Signal Advisors Wealth LLC now owns 13,898 shares of the software maker’s stock valued at $1,325,000 after acquiring an additional 1,011 shares during the period. SeaCrest Wealth Management LLC grew its stake in Shopify by 11.3% in the first quarter. SeaCrest Wealth Management LLC now owns 4,820 shares of the software maker’s stock valued at $460,000 after acquiring an additional 488 shares during the period. Finally, StoneCrest Wealth Management Inc. grew its stake in Shopify by 2.2% in the first quarter. StoneCrest Wealth Management Inc. now owns 11,064 shares of the software maker’s stock valued at $1,056,000 after acquiring an additional 239 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on SHOP. Truist Financial lifted their price objective on Shopify from $95.00 to $150.00 and gave the company a “hold” rating in a report on Thursday, August 7th. Arete restated a “neutral” rating on shares of Shopify in a report on Wednesday, July 23rd. CIBC raised their target price on shares of Shopify from $145.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Evercore ISI increased their price objective on shares of Shopify from $120.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Shopify in a research report on Saturday, September 27th. Twenty-two research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $150.59.

Shopify Stock Performance

Shopify stock opened at $161.14 on Friday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $162.60. The stock has a market capitalization of $209.43 billion, a P/E ratio of 90.02, a PEG ratio of 7.64 and a beta of 2.72. The stock has a 50-day simple moving average of $142.78 and a 200 day simple moving average of $117.23.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data 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. 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 period last year, the firm posted $0.26 earnings per share. The business’s revenue was up 31.1% on a year-over-year basis. Research 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.