Signal Advisors Wealth LLC Has $1.81 Million Position in Shopify Inc. $SHOP

Signal Advisors Wealth LLC raised its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 12.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,666 shares of the software maker’s stock after buying an additional 1,768 shares during the period. Signal Advisors Wealth LLC’s holdings in Shopify were worth $1,807,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SHOP. Hummer Financial Advisory Services Inc raised its holdings in shares of Shopify by 3.8% during the 2nd quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker’s stock valued at $299,000 after purchasing an additional 95 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in Shopify by 16.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker’s stock valued at $81,000 after buying an additional 100 shares during the last quarter. Quadcap Wealth Management LLC grew its stake in Shopify by 0.9% in the 1st quarter. Quadcap Wealth Management LLC now owns 11,133 shares of the software maker’s stock valued at $1,063,000 after buying an additional 103 shares during the last quarter. Centurion Wealth Management LLC grew its position in Shopify by 1.7% in the 2nd quarter. Centurion Wealth Management LLC now owns 6,339 shares of the software maker’s stock worth $731,000 after purchasing an additional 103 shares during the last quarter. Finally, Fullcircle Wealth LLC grew its position in Shopify by 2.7% in the 1st quarter. Fullcircle Wealth LLC now owns 4,240 shares of the software maker’s stock worth $418,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 2.9%

Shopify stock opened at $152.11 on Friday. The company has a 50 day moving average of $136.50 and a 200-day moving average of $113.10. The stock has a market capitalization of $197.69 billion, a PE ratio of 84.98, a price-to-earnings-growth ratio of 7.01 and a beta of 2.69. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $156.85.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The business 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 firm’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Equities analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SHOP shares. Zacks Research upgraded shares of Shopify to a “hold” rating in a research report on Tuesday, August 12th. ATB Capital downgraded shares of Shopify to a “sector perform” rating in a research note on Thursday, August 7th. BMO Capital Markets boosted their target price on shares of Shopify from $120.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Cantor Fitzgerald set a $156.00 price target on shares of Shopify and gave the stock a “neutral” rating in a research note on Wednesday, August 27th. Finally, Phillip Securities downgraded shares of Shopify from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 12th. Twenty-three equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $151.69.

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.