Shopify Inc. $SHOP Shares Acquired by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC increased its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 11.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,149 shares of the software maker’s stock after acquiring an additional 727 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Shopify were worth $825,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SHOP shares. National Bankshares lifted their price target on shares of Shopify from $140.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Loop Capital lowered shares of Shopify from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Tuesday, July 22nd. Scotiabank restated a “sector perform” rating and set a $150.00 target price (up previously from $115.00) on shares of Shopify in a report on Thursday, August 7th. Arete restated a “neutral” rating on shares of Shopify in a report on Wednesday, July 23rd. Finally, BMO Capital Markets lifted their target price on shares of Shopify from $120.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Twenty-two equities research 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 MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $151.95.

Shopify Stock Up 3.2%

Shopify stock opened at $166.43 on Thursday. The firm has a 50-day moving average price of $145.13 and a two-hundred day moving average price of $118.40. The firm has a market capitalization of $216.30 billion, a price-to-earnings ratio of 92.98, a PEG ratio of 7.55 and a beta of 2.72. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $169.69.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted 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 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 in the previous year, the business posted $0.26 EPS. Research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current 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.