Blue Trust Inc. Acquires 380 Shares of Shopify Inc. $SHOP

Blue Trust Inc. increased its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 16.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,759 shares of the software maker’s stock after purchasing an additional 380 shares during the period. Blue Trust Inc.’s holdings in Shopify were worth $318,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC bought a new stake in Shopify during the second quarter worth approximately $25,000. Coastline Trust Co bought a new stake in shares of Shopify during the 2nd quarter worth $29,000. Smithfield Trust Co boosted its holdings in shares of Shopify by 149.2% during the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock worth $30,000 after buying an additional 188 shares during the period. Dagco Inc. bought a new stake in shares of Shopify during the 1st quarter worth $30,000. Finally, Global Wealth Strategies & Associates boosted its holdings in shares of Shopify by 182.8% during the 2nd quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock worth $30,000 after buying an additional 170 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

Shares of SHOP stock opened at $153.66 on Tuesday. The stock has a market cap of $199.71 billion, a P/E ratio of 85.84, a price-to-earnings-growth ratio of 7.07 and a beta of 2.72. Shopify Inc. has a one year low of $69.84 and a one year high of $169.69. The stock has a fifty day moving average price of $147.18 and a 200 day moving average price of $119.67.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The firm had revenue of $2.68 billion during 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%.Shopify’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same period last year, the business earned $0.26 earnings per share. Equities research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. National Bankshares upped their price target on shares of Shopify from $140.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Scotiabank restated a “sector perform” rating and set a $150.00 target price (up previously from $115.00) on shares of Shopify in a research note on Thursday, August 7th. Stifel Nicolaus increased their price objective on Shopify from $110.00 to $150.00 and gave the company a “hold” rating in a research report on Thursday, August 7th. CIBC increased their price objective on Shopify from $145.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, Arete reissued a “neutral” rating on shares of Shopify in a research report on Wednesday, July 23rd. Twenty-two analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $151.95.

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.