Shopify Inc. $SHOP Shares Bought by RFG Advisory LLC

RFG Advisory LLC raised its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 38.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,701 shares of the software maker’s stock after buying an additional 7,099 shares during the period. RFG Advisory LLC’s holdings in Shopify were worth $3,049,000 as of its most recent filing with the Securities & Exchange Commission.

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

Shopify Stock Up 4.7%

Shares of NASDAQ:SHOP opened at $116.86 on Friday. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The firm’s 50 day moving average price is $112.68 and its 200 day moving average price is $128.33. The stock has a market cap of $151.64 billion, a price-to-earnings ratio of 115.70, a price-to-earnings-growth ratio of 3.07 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping the consensus estimate of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. On average, equities analysts anticipate that Shopify Inc. will post 1.39 EPS for the current year.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of research reports. Jefferies Financial Group restated a “hold” rating and issued a $140.00 price objective (down from $150.00) on shares of Shopify in a report on Tuesday, May 5th. Oppenheimer reiterated an “outperform” rating and set a $175.00 target price on shares of Shopify in a report on Wednesday, May 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $170.00 price target on shares of Shopify in a research report on Wednesday, May 6th. Citigroup restated a “market outperform” rating on shares of Shopify in a research note on Thursday, June 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 price objective on shares of Shopify in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Shopify has a consensus 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.