HB Wealth Management LLC Has $579,000 Stake in Shopify Inc. (NYSE:SHOP)

HB Wealth Management LLC increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 19.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,769 shares of the software maker’s stock after buying an additional 1,411 shares during the quarter. HB Wealth Management LLC’s holdings in Shopify were worth $579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC acquired a new stake in shares of Shopify during the 4th quarter valued at about $26,000. DSM Capital Partners LLC bought a new stake in shares of Shopify in the 4th quarter valued at approximately $28,000. Jones Financial Companies Lllp acquired a new position in shares of Shopify in the 4th quarter worth approximately $28,000. Your Advocates Ltd. LLP lifted its position in shares of Shopify by 4,344.4% during the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after buying an additional 391 shares during the period. Finally, OLD Point Trust & Financial Services N A acquired a new stake in Shopify in the 4th quarter valued at $39,000. 69.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SHOP. Evercore lifted their price objective on Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Atb Cap Markets upgraded shares of Shopify from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Shopify in a report on Thursday, August 8th. Loop Capital increased their price target on Shopify from $68.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Finally, Morgan Stanley raised their price target on Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.30.

Shopify Trading Up 1.0 %

NYSE SHOP opened at $73.29 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The firm has a market cap of $94.45 billion, a P/E ratio of -431.12, a P/E/G ratio of 2.50 and a beta of 2.30. The stock’s 50-day moving average is $66.10 and its 200-day moving average is $69.07. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) earnings per share. Sell-side analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Shopify Company 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.