Yousif Capital Management LLC Buys 1,215 Shares of Shopify Inc. $SHOP

Yousif Capital Management LLC raised its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,114 shares of the software maker’s stock after purchasing an additional 1,215 shares during the period. Yousif Capital Management LLC’s holdings in Shopify were worth $1,743,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hummer Financial Advisory Services Inc increased its position in shares of Shopify by 3.8% during the second quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker’s stock worth $299,000 after acquiring an additional 95 shares in the last quarter. Salem Investment Counselors Inc. increased its position in shares of Shopify by 16.7% during the second quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker’s stock worth $81,000 after acquiring an additional 100 shares in the last quarter. Moseley Investment Management Inc. increased its position in shares of Shopify by 2.8% during the second quarter. Moseley Investment Management Inc. now owns 3,674 shares of the software maker’s stock worth $424,000 after acquiring an additional 100 shares in the last quarter. Quadcap Wealth Management LLC increased its position in shares of Shopify by 0.9% during the first quarter. Quadcap Wealth Management LLC now owns 11,133 shares of the software maker’s stock worth $1,063,000 after acquiring an additional 103 shares in the last quarter. Finally, Centurion Wealth Management LLC increased its position in shares of Shopify by 1.7% during the second quarter. Centurion Wealth Management LLC now owns 6,339 shares of the software maker’s stock worth $731,000 after acquiring an additional 103 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Stock Up 0.8%

SHOP opened at $157.76 on Monday. The stock has a market cap of $205.03 billion, a price-to-earnings ratio of 88.13, a PEG ratio of 7.39 and a beta of 2.72. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $169.69. The company’s 50-day moving average price is $148.00 and its two-hundred day moving average price is $121.40.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results 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. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The company’s quarterly revenue was up 31.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share. As a group, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. KeyCorp reissued an “overweight” rating and set a $175.00 target price (up from $145.00) on shares of Shopify in a research report on Thursday, August 7th. Citigroup boosted their target price on shares of Shopify from $155.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Bank of America upped their price objective on shares of Shopify from $110.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Evercore ISI upped their price objective on shares of Shopify from $120.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, CIBC upped their price objective on shares of Shopify from $145.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.76.

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.