Tucker Asset Management LLC Acquires Shares of 3,896 Shopify Inc. $SHOP

Tucker Asset Management LLC acquired a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,896 shares of the software maker’s stock, valued at approximately $445,000.

Several other hedge funds also recently made changes to their positions in SHOP. Kingdom Financial Group LLC. acquired a new position in shares of Shopify during the fourth quarter worth about $26,000. Curio Wealth LLC acquired a new stake in Shopify in the fourth quarter valued at about $27,000. Evolution Wealth Management Inc. boosted its holdings in Shopify by 203.9% in the 1st quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock valued at $27,000 after purchasing an additional 155 shares in the last quarter. Graney & King LLC purchased a new stake in Shopify in the 1st quarter valued at approximately $27,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in Shopify in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $145.09 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.35 and a current ratio of 5.35. The company has a market capitalization of $186.68 billion, a price-to-earnings ratio of 98.03, a PEG ratio of 2.96 and a beta of 2.61. The company’s 50 day simple moving average is $134.20 and its 200 day simple moving average is $122.76. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The firm’s revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. On average, sell-side analysts predict that Shopify Inc. will post 1.45 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Susquehanna started coverage on Shopify in a research note on Friday, July 10th. They set a “neutral” rating for the company. UBS Group reissued a “neutral” rating and set a $145.00 price objective (up from $130.00) on shares of Shopify in a report on Thursday, August 6th. Seaport Research Partners reiterated a “buy” rating and issued a $175.00 price target on shares of Shopify in a research report on Monday, August 17th. Jefferies Financial Group reissued a “buy” rating and set a $175.00 price target on shares of Shopify in a research report on Wednesday, August 5th. Finally, Citigroup restated an “outperform” rating on shares of Shopify in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $170.84.

Shopify 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.