LifeGoal Investments LLC Raises Holdings in Shopify Inc. $SHOP

LifeGoal Investments LLC lifted its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 716.1% during the third quarter, HoldingsChannel.com reports. The fund owned 16,837 shares of the software maker’s stock after buying an additional 14,774 shares during the quarter. LifeGoal Investments LLC’s holdings in Shopify were worth $2,497,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sands Capital Management LLC increased its holdings in Shopify by 37.0% during the 4th quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock worth $1,530,187,000 after purchasing an additional 2,568,765 shares during the period. Invesco Ltd. raised its position in Shopify by 9.8% during the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after purchasing an additional 1,252,074 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Shopify in the 1st quarter worth $119,303,000. Swiss National Bank lifted its holdings in shares of Shopify by 27.0% in the 1st quarter. Swiss National Bank now owns 4,115,300 shares of the software maker’s stock worth $487,580,000 after buying an additional 876,100 shares during the period. Finally, Castle Hook Partners LP grew its position in shares of Shopify by 60.8% during the 4th quarter. Castle Hook Partners LP now owns 1,979,636 shares of the software maker’s stock worth $318,662,000 after buying an additional 748,152 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.9%

SHOP opened at $164.56 on Friday. The firm has a market cap of $211.73 billion, a price-to-earnings ratio of 111.19, a PEG ratio of 3.43 and a beta of 2.62. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 0.01. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The stock has a fifty day moving average price of $144.30 and a 200-day moving average price of $125.88.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Shopify had a return on equity of 12.58% and a net margin of 14.53%.The firm had revenue of $3.58 billion during the quarter. During the same quarter last year, the company earned $0.69 earnings per share. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Shopify Inc. will post 1.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SHOP. JPMorgan Chase & Co. raised their price target on Shopify from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday. The Goldman Sachs Group upped their price objective on shares of Shopify from $170.00 to $194.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley cut shares of Shopify from an “overweight” rating to a “buy” rating in a report on Monday, July 13th. Barclays set a $145.00 target price on shares of Shopify and gave the company an “equal weight” rating in a research report on Thursday, August 6th. Finally, UBS Group restated a “neutral” rating and issued a $145.00 price target (up from $130.00) on shares of Shopify in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average target price of $172.39.

Shopify Company Profile

Shopify Inc is a commerce technology company that provides tools for businesses to start, operate and grow online and in physical retail environments. Its platform enables merchants to create and manage online stores, sell through multiple channels, process orders and payments, manage inventory and engage with customers.

Shopify’s products and services include its core commerce platform, Shopify Plus for larger businesses, Shopify Payments, Shop Pay, point-of-sale solutions and tools for marketing, shipping, analytics and customer management.