26,533 Shares in Shopify Inc. $SHOP Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd purchased a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,533 shares of the software maker’s stock, valued at approximately $3,017,000.

Several other large investors have also recently bought and sold shares of the stock. Kingdom Financial Group LLC. bought a new stake in shares of Shopify during the fourth quarter worth approximately $26,000. Curio Wealth LLC acquired a new position in shares of Shopify in the fourth quarter valued at approximately $27,000. Evolution Wealth Management Inc. increased its stake in shares of Shopify by 203.9% during the first quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock worth $27,000 after purchasing an additional 155 shares during the period. Graney & King LLC bought a new position in shares of Shopify during the first quarter worth approximately $27,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Shopify during the 4th quarter worth approximately $29,000. 69.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on SHOP. DZ Bank downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Susquehanna started coverage on Shopify in a research report on Friday, July 10th. They set a “neutral” rating on the stock. Morgan Stanley cut shares of Shopify from an “overweight” rating to a “buy” rating in a research report on Monday, July 13th. Cantor Fitzgerald lifted their price objective on shares of Shopify from $127.00 to $145.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $180.00 price objective (up from $144.00) on shares of Shopify in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $170.72.

Shopify Stock Performance

SHOP opened at $154.32 on Monday. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The company has a 50-day simple moving average of $122.97 and a 200 day simple moving average of $120.09. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $198.55 billion, a price-to-earnings ratio of 104.27, a P/E/G ratio of 3.15 and a beta of 2.58.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 5th. The software maker reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The firm had revenue of $3.58 billion for the quarter. Shopify had a net margin of 14.53% and a return on equity of 12.58%. Shopify’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share. Analysts predict that Shopify Inc. will post 1.45 EPS for the current fiscal year.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.