Clear Creek Financial Management LLC Has $746,000 Stock Position in Shopify Inc. $SHOP

Clear Creek Financial Management LLC increased its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 6.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,467 shares of the software maker’s stock after purchasing an additional 407 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Shopify were worth $746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC acquired a new stake in Shopify in the 2nd quarter valued at about $25,000. Coastline Trust Co acquired a new stake in Shopify in the 2nd quarter valued at about $29,000. Global Wealth Strategies & Associates increased its position in 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 acquiring an additional 170 shares in the last quarter. Smithfield Trust Co increased its position in 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 acquiring an additional 188 shares in the last quarter. Finally, Dagco Inc. acquired a new stake in Shopify in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Down 7.8%

Shares of Shopify stock opened at $151.02 on Friday. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $169.69. The company has a 50-day simple moving average of $146.61 and a two-hundred day simple moving average of $119.06. The stock has a market capitalization of $196.27 billion, a price-to-earnings ratio of 84.37, a price-to-earnings-growth ratio of 7.67 and a beta of 2.72.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The business’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same period last year, the firm earned $0.26 EPS. On average, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Benchmark restated a “buy” rating and issued a $140.00 price objective (up previously from $125.00) on shares of Shopify in a research report on Tuesday, August 5th. Arete Research upgraded shares of Shopify to a “hold” rating in a report on Wednesday, July 23rd. Citigroup raised their price objective on shares of Shopify from $155.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Bank of America upped their target price on shares of Shopify from $110.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Scotiabank restated a “sector perform” rating and issued a $150.00 price target (up from $115.00) on shares of Shopify in a research report on Thursday, August 7th. Twenty-two research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Shopify has an average rating of “Hold” and a consensus target price 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.