Shopify Inc. (NYSE:SHOP) Shares Purchased by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 58.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,178 shares of the software maker’s stock after buying an additional 3,737 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Shopify were worth $816,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of SHOP. Hummer Financial Advisory Services Inc purchased a new stake in shares of Shopify in the third quarter valued at about $200,000. Sumitomo Life Insurance Co. lifted its position in Shopify by 2.8% in the third quarter. Sumitomo Life Insurance Co. now owns 13,112 shares of the software maker’s stock valued at $1,051,000 after purchasing an additional 357 shares during the period. First United Bank & Trust boosted its holdings in Shopify by 22.3% in the 3rd quarter. First United Bank & Trust now owns 4,490 shares of the software maker’s stock valued at $360,000 after purchasing an additional 820 shares in the last quarter. Prospect Financial Services LLC acquired a new position in Shopify during the 3rd quarter worth approximately $288,000. Finally, NBC Securities Inc. raised its stake in shares of Shopify by 32.2% during the 3rd quarter. NBC Securities Inc. now owns 8,808 shares of the software maker’s stock worth $705,000 after buying an additional 2,146 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of NYSE:SHOP opened at $81.59 on Friday. The business has a 50-day moving average of $75.99 and a two-hundred day moving average of $68.90. The firm has a market capitalization of $105.14 billion, a PE ratio of 83.26, a P/E/G ratio of 2.80 and a beta of 2.36. 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.

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

Wall Street Analyst Weigh In

SHOP has been the topic of a number of recent analyst reports. Evercore ISI upped their price objective on Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Evercore increased their price target on shares of Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective on the stock in a report on Tuesday, September 17th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Truist Financial decreased their price target on Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $78.97.

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.