Strategic Planning Group LLC Purchases 3,292 Shares of Shopify Inc. $SHOP

Strategic Planning Group LLC lifted its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 6.6% during the third quarter, Holdings Channel reports. The institutional investor owned 53,373 shares of the software maker’s stock after buying an additional 3,292 shares during the quarter. Strategic Planning Group LLC’s holdings in Shopify were worth $7,932,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SHOP. Brighton Jones LLC increased its position in shares of Shopify by 2.8% during 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 in the last quarter. AQR Capital Management LLC grew its stake in Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after buying an additional 7,544 shares during the last quarter. Ascent Group LLC acquired a new position in Shopify during the 1st quarter valued at about $513,000. SCS Capital Management LLC purchased a new stake in Shopify in the first quarter valued at about $1,101,000. Finally, SageView Advisory Group LLC boosted its holdings in Shopify by 52.3% in the first quarter. SageView Advisory Group LLC now owns 4,840 shares of the software maker’s stock worth $462,000 after acquiring an additional 1,662 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 1.0%

Shares of SHOP opened at $166.74 on Thursday. The company has a market capitalization of $217.07 billion, a price-to-earnings ratio of 123.51, a PEG ratio of 5.00 and a beta of 2.83. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The stock’s 50-day moving average price is $160.31 and its 200-day moving average price is $147.14.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. As a group, equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SHOP shares. Cantor Fitzgerald restated a “neutral” rating and set a $181.00 price objective (up previously from $156.00) on shares of Shopify in a report on Wednesday, November 5th. KeyCorp raised their price target on shares of Shopify from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Shopify in a research note on Wednesday. Canaccord Genuity Group boosted their price objective on shares of Shopify from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, TD Securities upgraded Shopify to a “hold” rating in a research note on Thursday, December 4th. Twenty-four research analysts have rated the stock with a Buy rating and twenty-two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $169.14.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.