Evoke Wealth LLC Has $2.40 Million Holdings in Shopify Inc. $SHOP

Evoke Wealth LLC boosted its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 101.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,934 shares of the software maker’s stock after buying an additional 7,516 shares during the period. Evoke Wealth LLC’s holdings in Shopify were worth $2,404,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Moloney Securities Asset Management LLC increased its holdings in shares of Shopify by 1.8% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock valued at $587,000 after purchasing an additional 70 shares during the period. Seros Financial LLC increased its holdings in shares of Shopify by 2.7% in the 3rd quarter. Seros Financial LLC now owns 2,856 shares of the software maker’s stock valued at $424,000 after purchasing an additional 75 shares during the period. First Affirmative Financial Network increased its holdings in shares of Shopify by 3.4% in the 3rd quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker’s stock valued at $338,000 after purchasing an additional 75 shares during the period. TBH Global Asset Management LLC increased its holdings in shares of Shopify by 1.2% in the 4th quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock valued at $1,036,000 after purchasing an additional 75 shares during the period. Finally, Strategic Advisors LLC increased its holdings in shares of Shopify by 0.3% in the 3rd quarter. Strategic Advisors LLC now owns 28,785 shares of the software maker’s stock valued at $4,278,000 after purchasing an additional 76 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $103.00 on Friday. The stock has a market cap of $133.66 billion, a price-to-earnings ratio of 101.98, a PEG ratio of 2.89 and a beta of 2.64. The business has a 50 day simple moving average of $116.29 and a 200 day simple moving average of $135.86. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19.

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, beating the consensus estimate of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. On average, analysts predict that Shopify Inc. will post 1.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Benchmark dropped their target price on Shopify from $195.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of Shopify in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $175.00 target price on shares of Shopify in a report on Thursday, February 12th. Truist Financial set a $150.00 target price on Shopify and gave the company a “buy” rating in a report on Tuesday, February 17th. Finally, TD Securities upgraded Shopify from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a report on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.42.

Shopify 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.