Shopify Inc. $SHOP Shares Bought by One Wealth Capital Management LLC

One Wealth Capital Management LLC grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,743 shares of the software maker’s stock after acquiring an additional 697 shares during the quarter. One Wealth Capital Management LLC’s holdings in Shopify were worth $1,217,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC increased its stake in Shopify by 9.8% during the fourth quarter. LRI Investments LLC now owns 889 shares of the software maker’s stock worth $94,000 after acquiring an additional 79 shares during the last quarter. Quadcap Wealth Management LLC boosted its position in shares of Shopify by 0.9% in the first quarter. Quadcap Wealth Management LLC now owns 11,133 shares of the software maker’s stock worth $1,063,000 after buying an additional 103 shares during the period. Fullcircle Wealth LLC boosted its position in shares of Shopify by 2.7% in the first quarter. Fullcircle Wealth LLC now owns 4,240 shares of the software maker’s stock worth $418,000 after buying an additional 110 shares during the period. Avidian Wealth Enterprises LLC boosted its position in shares of Shopify by 3.4% in the first quarter. Avidian Wealth Enterprises LLC now owns 3,533 shares of the software maker’s stock worth $337,000 after buying an additional 116 shares during the period. Finally, SVB Wealth LLC boosted its position in shares of Shopify by 2.2% in the first quarter. SVB Wealth LLC now owns 5,415 shares of the software maker’s stock worth $517,000 after buying an additional 119 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SHOP. Oppenheimer upped their target price on Shopify from $145.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Mizuho upped their target price on Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Wells Fargo & Company upped their target price on Shopify from $107.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, June 6th. KeyCorp reaffirmed an “overweight” rating and issued a $175.00 target price (up previously from $145.00) on shares of Shopify in a research report on Thursday, August 7th. Finally, Arete Research raised Shopify to a “hold” rating in a research report on Wednesday, July 23rd. Twenty-four investment analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.27.

Shopify Stock Performance

Shares of SHOP opened at $141.28 on Monday. The company has a market capitalization of $183.62 billion, a P/E ratio of 91.15, a P/E/G ratio of 4.82 and a beta of 2.63. Shopify Inc. has a one year low of $65.86 and a one year high of $156.85. The stock has a 50-day moving average price of $127.97 and a 200 day moving average price of $110.43.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a return on equity of 12.00% and a net margin of 22.74%.Shopify’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 earnings per share. As a group, equities research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal 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.