Shopify Inc. (NYSE:SHOP) Shares Acquired by Tairen Capital Ltd

Tairen Capital Ltd increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 15.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 152,777 shares of the software maker’s stock after purchasing an additional 20,326 shares during the quarter. Shopify accounts for 0.4% of Tairen Capital Ltd’s investment portfolio, making the stock its 13th biggest holding. Tairen Capital Ltd’s holdings in Shopify were worth $10,091,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Tradition Wealth Management LLC grew its holdings in Shopify by 7.5% during the 4th quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock valued at $156,000 after buying an additional 140 shares during the last quarter. Willis Johnson & Associates Inc. increased its position in Shopify by 5.8% during the 1st quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock worth $211,000 after purchasing an additional 149 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its stake in Shopify by 3.2% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 4,839 shares of the software maker’s stock valued at $377,000 after purchasing an additional 150 shares during the last quarter. Valley National Advisers Inc. boosted its stake in shares of Shopify by 11.4% during the 1st quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock worth $114,000 after purchasing an additional 152 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in shares of Shopify by 4.0% during the first quarter. Checchi Capital Advisers LLC now owns 4,178 shares of the software maker’s stock worth $322,000 after buying an additional 162 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SHOP. Roth Mkm increased their price target on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Wells Fargo & Company increased their target price on Shopify from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Truist Financial lowered their price target on Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Citigroup cut their price objective on shares of Shopify from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Loop Capital boosted their target price on shares of Shopify from $68.00 to $80.00 and gave the company a “hold” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average price target of $77.92.

Shopify Stock Performance

Shares of SHOP opened at $78.72 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The business’s fifty day moving average price is $68.41 and its 200 day moving average price is $68.34. The stock has a market capitalization of $101.45 billion, a PE ratio of -463.06, a price-to-earnings-growth ratio of 2.47 and a beta of 2.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. Shopify’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share. Equities research analysts forecast that Shopify Inc. will post 0.76 EPS for the current 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.