KPP Advisory Services LLC Takes Position in Shopify Inc. $SHOP

KPP Advisory Services LLC bought a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,019 shares of the software maker’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Shopify by 171.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock valued at $48,827,000 after buying an additional 267,271 shares during the period. ARK Investment Management LLC raised its holdings in shares of Shopify by 13.6% during the second quarter. ARK Investment Management LLC now owns 5,049,508 shares of the software maker’s stock valued at $582,461,000 after acquiring an additional 605,283 shares in the last quarter. Worth Asset Management LLC bought a new position in shares of Shopify in the 2nd quarter worth approximately $236,000. Avior Wealth Management LLC raised its position in shares of Shopify by 32.6% in the 2nd quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker’s stock worth $1,570,000 after acquiring an additional 3,347 shares in the last quarter. Finally, 111 Capital bought a new position in shares of Shopify in the 2nd quarter worth approximately $1,719,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock opened at $167.03 on Friday. The company has a market cap of $217.08 billion, a P/E ratio of 93.31, a price-to-earnings-growth ratio of 7.58 and a beta of 2.72. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $169.69. The stock’s fifty day moving average price is $149.30 and its 200-day moving average price is $123.18.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Robert W. Baird upped their price target on Shopify from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. TD Securities upped their price target on Shopify from $130.00 to $156.00 and gave the stock a “hold” rating in a research note on Friday, October 3rd. Benchmark restated a “buy” rating and issued a $140.00 price target (up previously from $125.00) on shares of Shopify in a research note on Tuesday, August 5th. Royal Bank Of Canada upped their price target on Shopify from $170.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Finally, BMO Capital Markets upped their price target on Shopify from $120.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twenty-two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $153.30.

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.