9,123 Shares in Shopify Inc. $SHOP Acquired by Callan Family Office LLC

Callan Family Office LLC bought a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 9,123 shares of the software maker’s stock, valued at approximately $1,052,000.

Several other institutional investors also recently modified their holdings of SHOP. Nuveen LLC bought a new position in shares of Shopify in the first quarter valued at $667,392,000. Jennison Associates LLC increased its holdings in shares of Shopify by 324.3% in the first quarter. Jennison Associates LLC now owns 5,280,781 shares of the software maker’s stock valued at $504,209,000 after buying an additional 4,036,326 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Shopify by 34.4% in the first quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock valued at $565,504,000 after buying an additional 1,522,573 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Shopify by 19.7% in the first quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock valued at $822,745,000 after buying an additional 1,426,406 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Shopify by 24.6% in the first quarter. Alliancebernstein L.P. now owns 5,554,420 shares of the software maker’s stock valued at $530,336,000 after buying an additional 1,094,840 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

NASDAQ SHOP opened at $151.02 on Monday. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $169.69. The stock has a market cap of $196.27 billion, a price-to-earnings ratio of 84.37, a PEG ratio of 7.07 and a beta of 2.72. The firm’s 50 day moving average price is $146.61 and its two-hundred day moving average price is $119.28.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping 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 firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the company posted $0.26 EPS. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. On average, research analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SHOP. Canaccord Genuity Group upped their price target on Shopify from $115.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 7th. CIBC upped their price target on Shopify from $145.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Cantor Fitzgerald set a $156.00 price target on Shopify and gave the company a “neutral” rating in a report on Wednesday, August 27th. UBS Group upped their price target on Shopify from $110.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Finally, Barclays lifted their price objective on shares of Shopify from $94.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Twenty-two investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.