Shopify Inc. $SHOP Shares Bought by Regatta Capital Group LLC

Regatta Capital Group LLC lifted its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 13.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,422 shares of the software maker’s stock after buying an additional 630 shares during the quarter. Regatta Capital Group LLC’s holdings in Shopify were worth $625,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SHOP. Family Legacy Financial Solutions LLC purchased a new stake in shares of Shopify in the second quarter valued at about $25,000. Smithfield Trust Co raised its position in shares of Shopify by 149.2% during the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock worth $30,000 after purchasing an additional 188 shares during the last quarter. Dagco Inc. purchased a new stake in Shopify in the 1st quarter valued at approximately $30,000. Global Wealth Strategies & Associates grew its holdings in Shopify by 182.8% during the 2nd quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock valued at $30,000 after buying an additional 170 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in Shopify by 86.8% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 355 shares of the software maker’s stock valued at $34,000 after buying an additional 165 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Down 0.7%

Shares of SHOP opened at $148.83 on Thursday. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $159.01. The company’s fifty day moving average is $139.40 and its two-hundred day moving average is $114.47. The firm has a market cap of $193.43 billion, a PE ratio of 83.15, a price-to-earnings-growth ratio of 7.10 and a beta of 2.69.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the company posted $0.26 EPS. The business’s quarterly revenue was up 31.1% on a year-over-year basis. As a group, equities research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Truist Financial upped their target price on shares of Shopify from $95.00 to $150.00 and gave the company a “hold” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Shopify from $115.00 to $179.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Wedbush raised their target price on shares of Shopify from $115.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Cantor Fitzgerald set a $156.00 price target on Shopify and gave the company a “neutral” rating in a report on Wednesday, August 27th. Finally, Barclays raised their price objective on Shopify from $94.00 to $120.00 and gave the stock an “equal weight” rating in a report on Thursday, August 7th. Twenty-three equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.69.

Shopify 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.