True Vision MN LLC Raises Stock Holdings in Shopify Inc. $SHOP

True Vision MN LLC grew its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 4.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,983 shares of the software maker’s stock after acquiring an additional 153 shares during the quarter. True Vision MN LLC’s holdings in Shopify were worth $459,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. KPP Advisory Services LLC purchased a new position in Shopify during the second quarter worth about $233,000. Belpointe Asset Management LLC purchased a new position in Shopify during the second quarter worth about $224,000. PUREfi Wealth LLC lifted its position in Shopify by 12.6% during the second quarter. PUREfi Wealth LLC now owns 5,581 shares of the software maker’s stock worth $644,000 after buying an additional 625 shares during the period. DAVENPORT & Co LLC lifted its position in Shopify by 2.9% during the second quarter. DAVENPORT & Co LLC now owns 24,535 shares of the software maker’s stock worth $2,830,000 after buying an additional 688 shares during the period. Finally, JSF Financial LLC purchased a new position in Shopify during the second quarter worth about $275,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Price Performance

Shopify stock opened at $164.50 on Tuesday. The stock’s 50-day moving average is $143.53 and its 200-day moving average is $117.76. The company has a market cap of $213.79 billion, a price-to-earnings ratio of 91.90, a price-to-earnings-growth ratio of 7.64 and a beta of 2.72. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $169.69.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $2.68 billion for 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 quarterly revenue was up 31.1% compared to the same quarter last year. During the same period last year, the business posted $0.26 EPS. Research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on SHOP shares. Zacks Research upgraded Shopify to a “hold” rating in a research report on Tuesday, August 12th. Phillip Securities downgraded Shopify from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 12th. TD Cowen reiterated a “hold” rating and set a $156.00 target price on shares of Shopify in a research report on Friday. Cantor Fitzgerald set a $156.00 target price on Shopify and gave the stock a “neutral” rating in a research report on Wednesday, August 27th. Finally, National Bankshares increased their target price on Shopify from $140.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Twenty-two equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $150.59.

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.