9,860 Shares in Shopify Inc. (NYSE:SHOP) Bought by Williams Financial LLC

Williams Financial LLC purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,860 shares of the software maker’s stock, valued at approximately $694,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Shopify by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 469,529 shares of the software maker’s stock worth $36,576,000 after acquiring an additional 41,205 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Shopify by 7.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 101,395 shares of the software maker’s stock valued at $7,899,000 after buying an additional 6,713 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in Shopify by 41.2% during the fourth quarter. Foundations Investment Advisors LLC now owns 9,144 shares of the software maker’s stock worth $702,000 after buying an additional 2,666 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Shopify by 2.4% during the fourth quarter. Quadrant Capital Group LLC now owns 7,371 shares of the software maker’s stock worth $574,000 after buying an additional 173 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its position in Shopify by 5.5% in the 4th quarter. Kingsview Wealth Management LLC now owns 26,004 shares of the software maker’s stock valued at $2,026,000 after buying an additional 1,363 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wedbush reiterated a “neutral” rating and issued a $72.00 target price (up previously from $68.00) on shares of Shopify in a research note on Wednesday, August 7th. Piper Sandler reiterated a “neutral” rating and issued a $67.00 price objective on shares of Shopify in a research note on Thursday, August 29th. Evercore ISI lifted their target price on shares of Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Truist Financial reduced their target price on Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Finally, Bank of America upgraded Shopify from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $78.00 to $82.00 in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Shopify has an average rating of “Moderate Buy” and a consensus target price of $77.37.

Shopify Price Performance

SHOP stock opened at $72.45 on Friday. The firm has a 50 day simple moving average of $67.38 and a two-hundred day simple moving average of $68.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The stock has a market cap of $93.36 billion, a PE ratio of -426.18, a P/E/G ratio of 2.40 and a beta of 2.35. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the business earned ($0.08) earnings per share. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, analysts predict that Shopify Inc. will post 0.76 EPS for the current fiscal 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.