2,206 Shares in Shopify Inc. $SHOP Bought by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust acquired a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,206 shares of the software maker’s stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Family Legacy Financial Solutions LLC acquired a new position in shares of Shopify during the 2nd quarter worth $25,000. Tradewinds Capital Management LLC raised its stake in shares of Shopify by 71.4% during 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 acquired a new position in Shopify during the second quarter worth about $29,000. Smithfield Trust Co raised its position in Shopify by 149.2% during the first quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock worth $30,000 after acquiring an additional 188 shares during the last quarter. Finally, Dagco Inc. acquired a new position in Shopify during the first quarter worth about $30,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Down 3.0%

Shopify stock opened at $173.61 on Friday. The firm has a market capitalization of $225.63 billion, a P/E ratio of 96.99, a PEG ratio of 8.38 and a beta of 2.72. The stock has a fifty day moving average price of $152.94 and a 200 day moving average price of $126.64. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the firm posted $0.26 earnings per share. The business’s quarterly revenue was up 31.1% compared to the same quarter last year. As a group, equities analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SHOP. Weiss Ratings restated a “hold (c)” rating on shares of Shopify in a research report on Wednesday, October 8th. Cantor Fitzgerald set a $156.00 price objective on Shopify and gave the stock a “neutral” rating in a research report on Wednesday, August 27th. Oppenheimer reissued an “outperform” rating and issued a $200.00 price target (up from $180.00) on shares of Shopify in a report on Tuesday. Loop Capital cut Shopify from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Tuesday, July 22nd. Finally, Evercore ISI boosted their target price on shares of Shopify from $120.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twenty-two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $155.35.

About Shopify

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.