Shopify Inc. $SHOP Shares Purchased by CKW Financial Group

CKW Financial Group boosted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 18.1% in the second quarter, HoldingsChannel.com reports. The firm owned 1,933 shares of the software maker’s stock after buying an additional 296 shares during the quarter. CKW Financial Group’s holdings in Shopify were worth $218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC boosted its holdings in Shopify by 22.8% in the second quarter. Axxcess Wealth Management LLC now owns 18,890 shares of the software maker’s stock valued at $2,179,000 after purchasing an additional 3,502 shares in the last quarter. Moran Wealth Management LLC acquired a new stake in shares of Shopify in the second quarter valued at approximately $208,000. Verdence Capital Advisors LLC boosted its holdings in shares of Shopify by 8.1% in the second quarter. Verdence Capital Advisors LLC now owns 24,117 shares of the software maker’s stock valued at $2,782,000 after acquiring an additional 1,797 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Shopify by 0.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 42,194 shares of the software maker’s stock valued at $4,867,000 after acquiring an additional 207 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Shopify by 13.0% in the second quarter. Sequoia Financial Advisors LLC now owns 19,751 shares of the software maker’s stock valued at $2,278,000 after acquiring an additional 2,275 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SHOP. TD Securities increased their price objective on Shopify from $130.00 to $156.00 and gave the company a “hold” rating in a report on Friday, October 3rd. Loop Capital downgraded Shopify from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Tuesday, July 22nd. BMO Capital Markets increased their price objective on Shopify from $120.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on Shopify from $115.00 to $179.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, National Bankshares increased their price objective on Shopify from $140.00 to $180.00 and gave the company an “outperform” rating in a 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $151.95.

Shopify Price Performance

Shopify stock opened at $153.66 on Tuesday. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $169.69. The business has a 50 day simple moving average of $147.18 and a 200-day simple moving average of $119.67. The stock has a market capitalization of $199.71 billion, a PE ratio of 85.84, a price-to-earnings-growth ratio of 7.07 and a beta of 2.72.

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