2,798 Shares in Shopify Inc. $SHOP Purchased by Anderson Financial Strategies LLC

Anderson Financial Strategies LLC acquired a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 2,798 shares of the software maker’s stock, valued at approximately $267,000.

Several other hedge funds have also recently bought and sold shares of SHOP. Fourth Dimension Wealth LLC purchased a new stake in Shopify in the 4th quarter worth about $30,000. Smithfield Trust Co lifted its stake in Shopify by 149.2% in the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock worth $30,000 after acquiring an additional 188 shares in the last quarter. Dagco Inc. purchased a new stake in Shopify in the 1st quarter worth about $30,000. Cary Street Partners Investment Advisory LLC lifted its stake in Shopify by 86.8% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 355 shares of the software maker’s stock worth $34,000 after acquiring an additional 165 shares in the last quarter. Finally, Accent Capital Management LLC purchased a new stake in Shopify in the 1st quarter worth about $46,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of SHOP stock opened at $142.20 on Thursday. The stock’s 50 day simple moving average is $132.70 and its 200 day simple moving average is $111.62. Shopify Inc. has a twelve month low of $68.10 and a twelve month high of $156.85. The company has a market capitalization of $184.81 billion, a price-to-earnings ratio of 79.44, a PEG ratio of 6.80 and a beta of 2.69.

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

Wall Street Analysts Forecast Growth

SHOP has been the subject of several research analyst reports. BMO Capital Markets raised their price target on Shopify from $120.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. TD Securities lifted their price target on Shopify from $145.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Loop Capital lowered 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. CIBC lifted their price target on Shopify from $145.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, Citigroup lifted their price target on Shopify from $155.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 8th. Twenty-four research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $150.27.

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.