Left Brain Wealth Management LLC Has $4.59 Million Holdings in Shopify Inc. $SHOP

Left Brain Wealth Management LLC boosted its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 176.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,541 shares of the software maker’s stock after purchasing an additional 18,210 shares during the quarter. Shopify accounts for approximately 1.6% of Left Brain Wealth Management LLC’s holdings, making the stock its 24th biggest position. Left Brain Wealth Management LLC’s holdings in Shopify were worth $4,594,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SHOP. Brighton Jones LLC raised its stake in Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after purchasing an additional 584 shares during the last quarter. AQR Capital Management LLC raised its stake in Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after purchasing an additional 7,544 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Shopify by 6.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock valued at $945,000 after purchasing an additional 506 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Shopify in the 2nd quarter valued at $53,000. Finally, Main Street Financial Solutions LLC raised its stake in shares of Shopify by 15.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock valued at $1,284,000 after buying an additional 1,479 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

SHOP opened at $100.28 on Friday. The firm’s 50-day simple moving average is $119.12 and its 200-day simple moving average is $138.41. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The firm has a market cap of $130.13 billion, a price-to-earnings ratio of 99.29, a PEG ratio of 2.73 and a beta of 2.64.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping the consensus estimate of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. As a group, sell-side analysts anticipate that Shopify Inc. will post 1.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SHOP. Wedbush dropped their price objective on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, February 12th. KeyCorp restated an “overweight” rating and issued a $160.00 price objective on shares of Shopify in a research note on Wednesday, February 11th. Evercore set a $135.00 price objective on shares of Shopify in a research note on Wednesday, February 11th. Jefferies Financial Group restated a “hold” rating and issued a $140.00 price objective (down from $150.00) on shares of Shopify in a research note on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $175.00 price objective on shares of Shopify in a research note on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $158.42.

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.