Shopify Inc. $SHOP Stock Position Raised by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC lifted its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 11.3% during the second quarter, HoldingsChannel reports. The fund owned 7,149 shares of the software maker’s stock after purchasing an additional 727 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Shopify were worth $825,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SHOP. Family Legacy Financial Solutions LLC purchased a new position in Shopify in the second quarter valued at about $25,000. Coastline Trust Co purchased a new position in Shopify in the second quarter valued at about $29,000. Smithfield Trust Co grew its stake in Shopify by 149.2% in the first quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock valued at $30,000 after purchasing an additional 188 shares in the last quarter. Dagco Inc. purchased a new position in Shopify in the first quarter valued at about $30,000. Finally, Global Wealth Strategies & Associates grew its stake in Shopify by 182.8% in the second quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock valued at $30,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

NASDAQ SHOP opened at $166.43 on Thursday. The firm has a market capitalization of $216.30 billion, a price-to-earnings ratio of 92.98, a P/E/G ratio of 7.55 and a beta of 2.72. The company’s fifty day moving average is $145.13 and its two-hundred day moving average is $118.40. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $169.69.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly 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 for 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 business’s quarterly revenue was up 31.1% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS. As a group, sell-side analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Needham & Company LLC assumed coverage on shares of Shopify in a research note on Monday, July 14th. They set a “buy” rating and a $135.00 price target on the stock. Loop Capital lowered shares of Shopify from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Tuesday, July 22nd. Truist Financial increased their price target on shares of Shopify from $95.00 to $150.00 and gave the stock a “hold” rating in a research note on Thursday, August 7th. Citigroup increased their price target on shares of Shopify from $155.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Finally, Arete Research upgraded shares of Shopify to a “hold” rating in a research note on Wednesday, July 23rd. Twenty-two analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Shopify presently has a consensus rating of “Hold” and a consensus 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.