3,713 Shares in Shopify Inc. $SHOP Purchased by Park Capital Management LLC WI

Park Capital Management LLC WI acquired a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the third quarter, HoldingsChannel reports. The fund acquired 3,713 shares of the software maker’s stock, valued at approximately $552,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOP. Rothschild Investment LLC lifted its position in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Shopify by 13.9% in the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock valued at $72,000 after purchasing an additional 77 shares in the last quarter. N.E.W. Advisory Services LLC raised its position in Shopify by 16.2% in the 2nd quarter. N.E.W. Advisory Services LLC now owns 595 shares of the software maker’s stock worth $69,000 after purchasing an additional 83 shares during the last quarter. LM Advisors LLC lifted its holdings in Shopify by 2.2% during the 2nd quarter. LM Advisors LLC now owns 4,045 shares of the software maker’s stock worth $467,000 after buying an additional 88 shares in the last quarter. Finally, Prosperity Consulting Group LLC lifted its holdings in Shopify by 1.5% during the 2nd quarter. Prosperity Consulting Group LLC now owns 6,011 shares of the software maker’s stock worth $693,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the subject of several research reports. UBS Group set a $195.00 target price on Shopify in a research note on Wednesday, December 3rd. Canaccord Genuity Group raised their price target on Shopify from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. KeyCorp lifted their price objective on Shopify from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Royal Bank Of Canada raised their target price on shares of Shopify from $170.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Shopify in a research report on Monday. Twenty-two research analysts have rated the stock with a Buy rating and twenty-three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $168.69.

Shopify Trading Down 0.0%

Shopify stock opened at $169.45 on Friday. The firm has a market capitalization of $220.60 billion, a P/E ratio of 125.52, a PEG ratio of 6.28 and a beta of 2.82. The business has a 50-day moving average of $161.05 and a 200-day moving average of $143.32. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. Research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.