Three Seasons Wealth LLC Acquires 1,811 Shares of Shopify Inc. $SHOP

Three Seasons Wealth LLC raised its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 12.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 16,268 shares of the software maker’s stock after buying an additional 1,811 shares during the period. Shopify makes up approximately 0.2% of Three Seasons Wealth LLC’s holdings, making the stock its 19th biggest holding. Three Seasons Wealth LLC’s holdings in Shopify were worth $1,877,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC bought a new position in Shopify in the 2nd quarter valued at $25,000. Fourth Dimension Wealth LLC bought a new position in Shopify in the 4th quarter valued at $30,000. Smithfield Trust Co grew its position in 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 acquiring an additional 188 shares during the last quarter. Dagco Inc. bought a new position in Shopify in the 1st quarter valued at $30,000. Finally, Global Wealth Strategies & Associates grew its position in 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 acquiring an additional 170 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SHOP shares. Stifel Nicolaus raised their price target on Shopify from $110.00 to $150.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. Citigroup raised their price target on Shopify from $155.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Zacks Research upgraded Shopify to a “hold” rating in a research note on Tuesday, August 12th. Barclays raised their price target on Shopify from $94.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. Finally, Benchmark restated a “buy” rating and set a $140.00 price target (up previously from $125.00) on shares of Shopify in a research note on Tuesday, August 5th. Twenty-three investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.69.

Shopify Price Performance

Shares of SHOP stock opened at $152.11 on Friday. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $156.85. The stock’s 50-day moving average is $136.50 and its 200 day moving average is $113.10. The company has a market cap of $197.69 billion, a P/E ratio of 84.98, a PEG ratio of 7.01 and a beta of 2.69.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the company earned $0.26 earnings per share. The firm’s revenue for the quarter was up 31.1% compared to the same quarter last year. On average, analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

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.