Shopify Inc. (NYSE:SHOP) Shares Acquired by Strategic Planning Group LLC

Strategic Planning Group LLC increased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,135 shares of the software maker’s stock after acquiring an additional 3,974 shares during the period. Strategic Planning Group LLC’s holdings in Shopify were worth $2,557,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SHOP. Private Wealth Management Group LLC acquired a new position in Shopify during the fourth quarter valued at approximately $26,000. SJS Investment Consulting Inc. raised its stake in shares of Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares during the period. DSM Capital Partners LLC purchased a new stake in shares of Shopify during the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Shopify during the fourth quarter valued at approximately $28,000. Finally, Your Advocates Ltd. LLP raised its stake in shares of Shopify by 4,344.4% during the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after purchasing an additional 391 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of Shopify stock opened at $64.45 on Tuesday. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $64.49 and its two-hundred day moving average price is $73.20. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The stock has a market cap of $83.06 billion, a PE ratio of -378.32, a price-to-earnings-growth ratio of 3.27 and a beta of 2.27.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. As a group, sell-side analysts anticipate that Shopify Inc. will post 0.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SHOP. Barclays dropped their price objective on shares of Shopify from $68.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Evercore upgraded shares of Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Friday, June 14th. BNP Paribas upgraded shares of Shopify from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 2nd. TD Securities dropped their price target on shares of Shopify from $80.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Finally, JMP Securities upgraded shares of Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $76.39.

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.