Shopify Inc. $SHOP Shares Purchased by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC lifted its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 41.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,632 shares of the software maker’s stock after purchasing an additional 1,060 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Shopify were worth $419,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SHOP. Family Legacy Financial Solutions LLC acquired a new stake in shares of Shopify in the 2nd quarter valued at about $25,000. Coastline Trust Co acquired a new stake in shares of Shopify in the 2nd quarter valued at about $29,000. Smithfield Trust Co boosted its position in shares of Shopify by 149.2% in the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock valued at $30,000 after purchasing an additional 188 shares during the period. Dagco Inc. acquired a new stake in shares of Shopify in the 1st quarter valued at about $30,000. Finally, Global Wealth Strategies & Associates boosted its position in shares of Shopify by 182.8% in the 2nd quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock valued at $30,000 after purchasing an additional 170 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Arete Research raised Shopify to a “hold” rating in a research report on Wednesday, July 23rd. Arete reaffirmed a “neutral” rating on shares of Shopify in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price objective on Shopify from $115.00 to $179.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Scotiabank reaffirmed a “sector perform” rating and set a $150.00 price objective (up from $115.00) on shares of Shopify in a research report on Thursday, August 7th. Finally, UBS Group increased their price objective on Shopify from $110.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $151.95.

Shopify Trading Up 0.2%

Shares of SHOP stock opened at $156.57 on Friday. The company has a market cap of $203.49 billion, a price-to-earnings ratio of 87.47, a price-to-earnings-growth ratio of 7.31 and a beta of 2.72. The stock has a 50 day simple moving average of $147.83 and a 200-day simple moving average of $120.58. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $169.69.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The company’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 EPS. On average, equities analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.