Seven Mile Advisory Has $292,000 Stock Holdings in Shopify Inc. (NYSE:SHOP)

Seven Mile Advisory grew its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,424 shares of the software maker’s stock after buying an additional 255 shares during the period. Seven Mile Advisory’s holdings in Shopify were worth $292,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SHOP. Private Wealth Management Group LLC acquired a new stake in Shopify in the fourth quarter worth about $26,000. DSM Capital Partners LLC acquired a new stake in shares of Shopify during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new stake in shares of Shopify during the fourth quarter worth approximately $28,000. Cultivar Capital Inc. acquired a new position in Shopify in the second quarter valued at approximately $33,000. Finally, Hazlett Burt & Watson Inc. bought a new position in Shopify in the second quarter valued at approximately $33,000. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the topic of a number of analyst reports. Piper Sandler reissued a “neutral” rating and issued a $67.00 price target on shares of Shopify in a research note on Thursday, August 29th. Truist Financial cut their target price on Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Wells Fargo & Company boosted their target price on Shopify from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday. Argus upgraded shares of Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average price target of $77.37.

Shopify Price Performance

NYSE:SHOP opened at $72.45 on Friday. The stock has a market capitalization 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 1-year low of $45.50 and a 1-year high of $91.57. The firm has a fifty day simple moving average of $67.38 and a 200 day simple moving average of $68.36. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

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

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.