Eleva Capital SAS Makes New Investment in Shopify Inc. $SHOP

Eleva Capital SAS acquired a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,111 shares of the software maker’s stock, valued at approximately $936,000. Shopify accounts for approximately 0.2% of Eleva Capital SAS’s portfolio, making the stock its 27th biggest holding.

A number of other institutional investors have also recently bought and sold shares of the business. Gilbert & Cook Inc. boosted its position in Shopify by 46.2% during the 2nd quarter. Gilbert & Cook Inc. now owns 9,230 shares of the software maker’s stock worth $1,065,000 after acquiring an additional 2,917 shares during the period. Jessup Wealth Management Inc boosted its position in Shopify by 0.4% during the 2nd quarter. Jessup Wealth Management Inc now owns 63,031 shares of the software maker’s stock worth $7,271,000 after acquiring an additional 235 shares during the period. Welch & Forbes LLC boosted its position in Shopify by 1.8% during the 2nd quarter. Welch & Forbes LLC now owns 146,116 shares of the software maker’s stock worth $16,855,000 after acquiring an additional 2,515 shares during the period. Saxony Capital Management LLC lifted its holdings in shares of Shopify by 11.7% during the 2nd quarter. Saxony Capital Management LLC now owns 3,412 shares of the software maker’s stock valued at $394,000 after buying an additional 357 shares during the last quarter. Finally, NWK Group Inc. acquired a new stake in shares of Shopify during the 2nd quarter valued at about $6,260,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP stock opened at $173.86 on Friday. The stock’s 50 day simple moving average is $153.57 and its 200 day simple moving average is $127.57. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19. The company has a market capitalization of $225.96 billion, a price-to-earnings ratio of 97.13, a PEG ratio of 8.14 and a beta of 2.72.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, beating 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 business 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 earned $0.26 EPS. The firm’s revenue was up 31.1% compared to the same quarter last year. On average, analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. TD Cowen reiterated a “hold” rating and set a $156.00 price target on shares of Shopify in a report on Friday, October 3rd. Citigroup lifted their price target on Shopify from $155.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 8th. Benchmark reiterated a “buy” rating and set a $140.00 price target (up from $125.00) on shares of Shopify in a report on Tuesday, August 5th. TD Securities lifted their price target on Shopify from $130.00 to $156.00 and gave the company a “hold” rating in a report on Friday, October 3rd. Finally, Canaccord Genuity Group lifted their price target on Shopify from $115.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 7th. One 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average target price of $155.35.

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.