Salomon & Ludwin LLC Boosts Holdings in Shopify Inc. $SHOP

Salomon & Ludwin LLC boosted its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1,875.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 316 shares of the software maker’s stock after acquiring an additional 300 shares during the period. Salomon & Ludwin LLC’s holdings in Shopify were worth $36,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Shopify by 171.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock valued at $48,827,000 after buying an additional 267,271 shares in the last quarter. Worth Asset Management LLC bought a new stake in shares of Shopify during the 2nd quarter valued at $236,000. Avior Wealth Management LLC boosted its holdings in shares of Shopify by 32.6% during the 2nd quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker’s stock valued at $1,570,000 after buying an additional 3,347 shares in the last quarter. 111 Capital bought a new stake in shares of Shopify during the 2nd quarter valued at $1,719,000. Finally, Integrity Alliance LLC. bought a new stake in shares of Shopify during the 1st quarter valued at $211,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 0.8%

Shares of NASDAQ:SHOP opened at $157.76 on Monday. The firm’s 50 day moving average price is $148.00 and its 200-day moving average price is $121.40. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $169.69. The stock has a market capitalization of $205.03 billion, a PE ratio of 88.13, a price-to-earnings-growth ratio of 7.39 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $2.68 billion during 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 firm’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 EPS. Analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on SHOP. Benchmark reiterated a “buy” rating and issued a $140.00 price target (up previously from $125.00) on shares of Shopify in a research note on Tuesday, August 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Shopify in a research note on Wednesday, October 8th. Phillip Securities cut shares of Shopify from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 12th. Evercore ISI upped their price target on shares of Shopify from $120.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, Zacks Research raised Shopify from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twenty-two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target 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.