Capstone Triton Financial Group LLC Has $1.25 Million Stake in Shopify Inc. (NYSE:SHOP)

Capstone Triton Financial Group LLC reduced its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 13.7% during the second quarter, Holdings Channel.com reports. The firm owned 18,969 shares of the software maker’s stock after selling 3,001 shares during the quarter. Capstone Triton Financial Group LLC’s holdings in Shopify were worth $1,253,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. DSM Capital Partners LLC purchased a new stake in shares of Shopify in the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new stake in Shopify during the fourth quarter worth $28,000. Cultivar Capital Inc. purchased a new stake in Shopify in the 2nd quarter valued at $33,000. Hazlett Burt & Watson Inc. bought a new position in Shopify during the 2nd quarter valued at $33,000. Finally, OLD Point Trust & Financial Services N A purchased a new position in Shopify during the 4th quarter worth $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on SHOP shares. Wedbush reiterated a “neutral” rating and issued a $72.00 target price (up previously from $68.00) on shares of Shopify in a report on Wednesday, August 7th. Benchmark reiterated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. Wells Fargo & Company boosted their target price on Shopify from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. UBS Group increased their price target on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Argus upgraded Shopify to a “strong-buy” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $77.92.

Shopify Stock Performance

Shopify stock opened at $78.71 on Friday. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $101.43 billion, a PE ratio of -463.00, a price-to-earnings-growth ratio of 2.47 and a beta of 2.35. The firm’s 50 day simple moving average is $68.41 and its 200 day simple moving average is $68.41.

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, topping the consensus estimate of $0.20 by $0.06. The firm had revenue of $2.05 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. As a group, analysts expect that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

About Shopify

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.