BetterWealth LLC Makes New Investment in Shopify Inc. $SHOP

BetterWealth LLC purchased a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 18,317 shares of the software maker’s stock, valued at approximately $2,173,000. Shopify comprises about 0.4% of BetterWealth LLC’s holdings, making the stock its 22nd biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after acquiring an additional 584 shares during the period. AQR Capital Management LLC increased its position in shares of Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after purchasing an additional 7,544 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Shopify by 6.6% in the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock valued at $945,000 after buying an additional 506 shares during the period. Osterweis Capital Management Inc. acquired a new stake in shares of Shopify in the second quarter valued at $53,000. Finally, Main Street Financial Solutions LLC boosted its stake in Shopify by 15.3% during the second quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock valued at $1,284,000 after buying an additional 1,479 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 6.5%

NASDAQ SHOP opened at $121.63 on Thursday. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The company has a fifty day simple moving average of $111.81 and a 200 day simple moving average of $127.11. The company has a market cap of $157.83 billion, a P/E ratio of 120.43, a P/E/G ratio of 3.14 and a beta of 2.58.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Equities research analysts forecast that Shopify Inc. will post 1.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. Barclays set a $126.00 target price on shares of Shopify and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. National Bank Financial decreased their price target on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Citizens Jmp dropped their price target on Shopify from $160.00 to $150.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $150.00 price objective (down from $165.00) on shares of Shopify in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.17.

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.