Texas Capital Bank Wealth Management Services Inc Purchases New Position in Shopify Inc. (NYSE:SHOP)

Texas Capital Bank Wealth Management Services Inc purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,060 shares of the software maker’s stock, valued at approximately $334,000.

Several other hedge funds have also recently bought and sold shares of the stock. Oliver Lagore Vanvalin Investment Group boosted its position in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares during the period. Jones Financial Companies Lllp bought a new stake in Shopify in the 4th quarter valued at about $28,000. Cultivar Capital Inc. acquired a new position in shares of Shopify during the 2nd quarter worth approximately $33,000. Hazlett Burt & Watson Inc. bought a new position in shares of Shopify during the second quarter worth approximately $33,000. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $39,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP opened at $79.21 on Friday. The firm’s fifty day simple moving average is $69.90 and its two-hundred day simple moving average is $68.54. Shopify Inc. has a 12 month low of $45.50 and a 12 month 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 stock has a market capitalization of $102.08 billion, a P/E ratio of -465.94, a price-to-earnings-growth ratio of 2.69 and a beta of 2.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 20.7% on a year-over-year basis. As a group, analysts predict that Shopify Inc. will post 0.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SHOP. KeyCorp began coverage on Shopify in a research note on Thursday, July 25th. They set an “overweight” rating and a $80.00 price objective on the stock. Benchmark restated a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. Loop Capital upped their price objective on shares of Shopify from $68.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 target price on shares of Shopify in a report on Thursday, August 8th. Finally, Wells Fargo & Company boosted their target price on shares of Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average price target of $77.92.

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.