Souders Financial Advisors Purchases 370 Shares of Shopify Inc. (NYSE:SHOP)

Souders Financial Advisors grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,522 shares of the software maker’s stock after buying an additional 370 shares during the quarter. Souders Financial Advisors’ holdings in Shopify were worth $761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SHOP. Jones Financial Companies Lllp bought a new position in shares of Shopify during the 4th quarter valued at $28,000. Belpointe Asset Management LLC bought a new position in Shopify in the 4th quarter worth $309,000. Blueshift Asset Management LLC raised its holdings in Shopify by 74.9% in the 4th quarter. Blueshift Asset Management LLC now owns 45,262 shares of the software maker’s stock worth $3,526,000 after purchasing an additional 19,385 shares during the period. Armistice Capital LLC bought a new position in Shopify in the 4th quarter worth $496,000. Finally, Capital International Investors raised its holdings in Shopify by 9.7% in the 4th quarter. Capital International Investors now owns 15,849,638 shares of the software maker’s stock worth $1,235,534,000 after purchasing an additional 1,399,562 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

NYSE SHOP opened at $80.15 on Tuesday. The firm’s fifty day simple moving average is $70.25 and its two-hundred day simple moving average is $68.48. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The firm has a market capitalization of $103.29 billion, a P/E ratio of -471.47, a P/E/G ratio of 2.69 and a beta of 2.35.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SHOP shares. Deutsche Bank Aktiengesellschaft raised their price target on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Wolfe Research started coverage on Shopify in a report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $85.00 price target on shares of Shopify in a report on Thursday, August 8th. JMP Securities reissued a “market outperform” rating and set a $80.00 price target on shares of Shopify in a report on Tuesday, September 10th. Finally, Roth Mkm raised their price target on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $78.26.

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.