Commerzbank Aktiengesellschaft FI Takes $1.60 Million Position in Shopify Inc. $SHOP

Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,899 shares of the software maker’s stock, valued at approximately $1,603,000.

A number of other institutional investors have also recently made changes to their positions in 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 purchased a new stake in Shopify in the second quarter worth $29,000. Smithfield Trust Co lifted its stake in Shopify by 149.2% in the first quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock worth $30,000 after acquiring an additional 188 shares during the period. Dagco Inc. purchased a new stake in Shopify in the first quarter worth $30,000. Finally, Global Wealth Strategies & Associates lifted its stake in Shopify by 182.8% in the second quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock worth $30,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 7.8%

SHOP opened at $151.02 on Friday. The stock has a fifty day simple moving average of $146.61 and a two-hundred day simple moving average of $119.06. The company has a market cap of $196.27 billion, a price-to-earnings ratio of 84.37, a price-to-earnings-growth ratio of 7.67 and a beta of 2.72. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $169.69.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on SHOP shares. Truist Financial raised their price target on Shopify from $95.00 to $150.00 and gave the stock a “hold” rating in a research note on Thursday, August 7th. BMO Capital Markets raised their price target on Shopify from $120.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Needham & Company LLC started coverage on Shopify in a research note on Monday, July 14th. They issued a “buy” rating and a $135.00 price target for the company. Mizuho raised their price target on Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, Stifel Nicolaus raised their price target on Shopify from $110.00 to $150.00 and gave the stock a “hold” rating in a research note on Thursday, August 7th. Twenty-two analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Shopify presently has an average rating of “Hold” and an average price target of $151.95.

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.