2,258 Shares in Shopify Inc. $SHOP Purchased by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC acquired a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,258 shares of the software maker’s stock, valued at approximately $260,000.

Other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Shopify by 171.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock worth $48,827,000 after buying an additional 267,271 shares during the last quarter. Worth Asset Management LLC purchased a new stake in Shopify during the second quarter worth about $236,000. Avior Wealth Management LLC increased its holdings in Shopify by 32.6% during the second quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker’s stock worth $1,570,000 after buying an additional 3,347 shares during the last quarter. 111 Capital purchased a new stake in Shopify during the second quarter worth about $1,719,000. Finally, Integrity Alliance LLC. purchased a new position in shares of Shopify in the first quarter worth about $211,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SHOP shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Shopify in a research note on Wednesday, October 8th. DA Davidson lifted their target price on shares of Shopify from $125.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Benchmark reiterated a “buy” rating and issued a $140.00 target price (up previously from $125.00) on shares of Shopify in a research note on Tuesday, August 5th. UBS Group lifted their target price on shares of Shopify from $110.00 to $145.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, CIBC lifted their target price on shares of Shopify from $145.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twenty-two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $152.76.

Shopify Price Performance

Shares of Shopify stock opened at $162.01 on Thursday. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $169.69. The firm has a market cap of $210.56 billion, a PE ratio of 90.51, a PEG ratio of 7.61 and a beta of 2.72. The company has a 50 day simple moving average of $148.84 and a two-hundred day simple moving average of $122.57.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the business posted $0.26 earnings per share. Shopify’s revenue for the quarter was up 31.1% on a year-over-year basis. As a group, research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

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.