Boothe Investment Group Inc. Acquires 631 Shares of Shopify Inc. $SHOP

Boothe Investment Group Inc. lifted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,458 shares of the software maker’s stock after buying an additional 631 shares during the period. Shopify makes up approximately 2.2% of Boothe Investment Group Inc.’s portfolio, making the stock its 19th biggest holding. Boothe Investment Group Inc.’s holdings in Shopify were worth $5,705,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Family Legacy Financial Solutions LLC purchased a new position in shares of Shopify in the 2nd quarter worth approximately $25,000. Tradewinds Capital Management LLC boosted its stake in shares of Shopify by 71.4% in the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Coastline Trust Co purchased a new position in shares of Shopify in the 2nd quarter worth approximately $29,000. Smithfield Trust Co boosted its stake in shares of Shopify by 149.2% in the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock worth $30,000 after buying an additional 188 shares during the last quarter. Finally, Dagco Inc. purchased a new position in Shopify in the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 3.5%

Shares of NASDAQ SHOP opened at $172.95 on Friday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $174.74. The business has a 50-day simple moving average of $149.93 and a two-hundred day simple moving average of $123.84. The company has a market cap of $224.78 billion, a P/E ratio of 96.62, a P/E/G ratio of 7.82 and a beta of 2.72.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the business posted $0.26 earnings per share. The firm’s revenue was up 31.1% compared to the same quarter last year. Equities research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

SHOP has been the topic of several research analyst reports. JMP Securities upped their price objective on Shopify from $135.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Zacks Research upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Arete Research upgraded Shopify to a “hold” rating in a research note on Wednesday, July 23rd. Loop Capital downgraded Shopify from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Tuesday, July 22nd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $149.00 price objective on shares of Shopify in a research note on Tuesday, September 30th. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $153.30.

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.