NBH Bank Makes New Investment in Shopify Inc. $SHOP

NBH Bank purchased a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,317 shares of the software maker’s stock, valued at approximately $721,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in shares of Shopify by 13.9% during the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after purchasing an additional 77 shares during the period. Tsfg LLC boosted its position in shares of Shopify by 4.0% in the 2nd quarter. Tsfg LLC now owns 2,028 shares of the software maker’s stock valued at $232,000 after purchasing an additional 78 shares during the period. Parr Mcknight Wealth Management Group LLC boosted its position in shares of Shopify by 3.1% in the 1st quarter. Parr Mcknight Wealth Management Group LLC now owns 2,762 shares of the software maker’s stock valued at $328,000 after purchasing an additional 84 shares during the period. Founders Financial Alliance LLC increased its stake in Shopify by 5.2% in the 4th quarter. Founders Financial Alliance LLC now owns 1,768 shares of the software maker’s stock worth $285,000 after purchasing an additional 87 shares in the last quarter. Finally, Caerus Investment Advisors LLC increased its stake in Shopify by 5.6% in the 1st quarter. Caerus Investment Advisors LLC now owns 1,688 shares of the software maker’s stock worth $200,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on SHOP shares. Zacks Research lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Wedbush lifted their target price on shares of Shopify from $155.00 to $176.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Cantor Fitzgerald lifted their target price on shares of Shopify from $127.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price target on shares of Shopify from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Bank of America began coverage on shares of Shopify in a research report on Tuesday, July 7th. They issued a “buy” rating and a $150.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $170.84.

Shopify Stock Down 0.5%

Shares of Shopify stock opened at $145.09 on Friday. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The company has a market cap of $186.68 billion, a P/E ratio of 98.03, a P/E/G ratio of 2.98 and a beta of 2.61. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $134.20 and a 200 day moving average price of $122.69.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $3.58 billion for the quarter. Shopify had a return on equity of 12.58% and a net margin of 14.53%.The company’s revenue was up 33.7% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. As a group, analysts expect that Shopify Inc. will post 1.45 EPS for the current fiscal year.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.