Ashton Thomas Private Wealth LLC Buys 150 Shares of Shopify Inc. $SHOP

Ashton Thomas Private Wealth LLC lifted its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,571 shares of the software maker’s stock after buying an additional 150 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Shopify were worth $527,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SHOP. Vanguard Group Inc. boosted its holdings in Shopify by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker’s stock worth $4,563,106,000 after acquiring an additional 882,168 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Shopify by 19.7% in the first quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock valued at $822,745,000 after purchasing an additional 1,426,406 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Shopify in the first quarter valued at about $667,392,000. Canada Pension Plan Investment Board lifted its position in shares of Shopify by 34.4% during the first quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock valued at $565,504,000 after purchasing an additional 1,522,573 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Shopify by 21.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker’s stock worth $539,382,000 after purchasing an additional 979,598 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on SHOP. Arete Research upgraded shares of Shopify to a “hold” rating in a research note on Wednesday, July 23rd. BMO Capital Markets lifted their price target on Shopify from $120.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. ATB Capital downgraded Shopify to a “sector perform” rating in a research note on Thursday, August 7th. Phillip Securities lowered Shopify from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 12th. Finally, KeyCorp lifted their target price on Shopify from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $155.35.

Shopify Price Performance

Shares of NASDAQ SHOP opened at $173.61 on Friday. The business’s fifty day moving average price is $152.94 and its 200-day moving average price is $126.64. Shopify Inc. has a one year low of $69.84 and a one year high of $182.19. The stock has a market capitalization of $225.63 billion, a PE ratio of 96.99, a P/E/G ratio of 8.38 and a beta of 2.72.

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