CAP Partners LLC Buys 592 Shares of Shopify Inc. $SHOP

CAP Partners LLC raised its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.3% in the second quarter, Holdings Channel.com reports. The firm owned 18,626 shares of the software maker’s stock after acquiring an additional 592 shares during the period. Shopify makes up approximately 1.4% of CAP Partners LLC’s holdings, making the stock its 20th largest holding. CAP Partners LLC’s holdings in Shopify were worth $2,149,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Hummer Financial Advisory Services Inc boosted its holdings in Shopify by 3.8% in the 2nd quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker’s stock valued at $299,000 after purchasing an additional 95 shares during the period. Salem Investment Counselors Inc. boosted its holdings in Shopify by 16.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker’s stock valued at $81,000 after purchasing an additional 100 shares during the period. Moseley Investment Management Inc. boosted its holdings in Shopify by 2.8% in the 2nd quarter. Moseley Investment Management Inc. now owns 3,674 shares of the software maker’s stock valued at $424,000 after purchasing an additional 100 shares during the period. Tradewinds Capital Management LLC lifted its holdings in shares of Shopify by 71.4% during the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after acquiring an additional 100 shares during the period. Finally, Quadcap Wealth Management LLC lifted its holdings in shares of Shopify by 0.9% during the 1st quarter. Quadcap Wealth Management LLC now owns 11,133 shares of the software maker’s stock worth $1,063,000 after acquiring an additional 103 shares during the period. 69.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Arete reaffirmed a “neutral” rating on shares of Shopify in a report on Wednesday, July 23rd. UBS Group raised their price objective on shares of Shopify from $110.00 to $145.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Mizuho raised their price objective on shares of Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Evercore ISI raised their price objective on shares of Shopify from $120.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Finally, Cantor Fitzgerald set a $156.00 price objective on shares of Shopify and gave the stock a “neutral” rating in a report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.30.

Shopify Stock Up 3.1%

Shares of SHOP stock opened at $167.03 on Friday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $169.69. The company has a market capitalization of $217.08 billion, a P/E ratio of 93.31, a P/E/G ratio of 7.58 and a beta of 2.72. The firm has a 50-day moving average price of $149.30 and a 200 day moving average price of $123.18.

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