Roman Butler Fullerton & Co. Takes $313,000 Position in Shopify Inc. $SHOP

Roman Butler Fullerton & Co. purchased a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,514 shares of the software maker’s stock, valued at approximately $313,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hummer Financial Advisory Services Inc raised its stake in Shopify by 3.8% in the second 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 in the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of Shopify by 16.7% during the second quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker’s stock worth $81,000 after purchasing an additional 100 shares during the last quarter. Moseley Investment Management Inc. grew its holdings in shares of Shopify by 2.8% during the second quarter. Moseley Investment Management Inc. now owns 3,674 shares of the software maker’s stock worth $424,000 after purchasing an additional 100 shares during the last quarter. Tradewinds Capital Management LLC grew its holdings in shares of Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Finally, Quadcap Wealth Management LLC boosted its holdings in Shopify by 0.9% in the first quarter. Quadcap Wealth Management LLC now owns 11,133 shares of the software maker’s stock valued at $1,063,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

SHOP stock opened at $167.03 on Friday. The company has a market capitalization of $217.08 billion, a price-to-earnings ratio of 93.31, a PEG ratio of 7.58 and a beta of 2.72. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $169.69. The stock has a fifty day moving average of $149.30 and a 200-day moving average of $123.18.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly 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 company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the company earned $0.26 EPS. The firm’s quarterly revenue was up 31.1% compared to the same quarter last year. Equities analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

SHOP has been the topic of several analyst reports. Bank of America upped their target price on Shopify from $110.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, August 7th. ATB Capital downgraded shares of Shopify to a “sector perform” rating in a report on Thursday, August 7th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 6th. The Goldman Sachs Group increased their price target on Shopify from $120.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Mizuho upped their price objective on Shopify from $85.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $153.30.

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.