Fullcircle Wealth LLC Acquires 296 Shares of Shopify Inc. $SHOP

Fullcircle Wealth LLC lifted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,536 shares of the software maker’s stock after purchasing an additional 296 shares during the period. Fullcircle Wealth LLC’s holdings in Shopify were worth $568,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Hummer Financial Advisory Services Inc increased its stake in shares of Shopify by 3.8% in the second quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker’s stock worth $299,000 after purchasing an additional 95 shares during the period. Salem Investment Counselors Inc. grew its position in Shopify by 16.7% during the second quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker’s stock worth $81,000 after buying an additional 100 shares in the last quarter. Moseley Investment Management Inc. grew its position in Shopify by 2.8% during the second quarter. Moseley Investment Management Inc. now owns 3,674 shares of the software maker’s stock worth $424,000 after buying an additional 100 shares in the last quarter. Tradewinds Capital Management LLC grew its position in Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Finally, Moser Wealth Advisors LLC grew its position in Shopify by 1.0% during the second quarter. Moser Wealth Advisors LLC now owns 10,274 shares of the software maker’s stock worth $1,185,000 after buying an additional 100 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Down 0.5%

NASDAQ SHOP opened at $172.94 on Tuesday. The stock’s 50 day moving average is $154.22 and its two-hundred day moving average is $128.51. The company has a market capitalization of $224.76 billion, a price-to-earnings ratio of 96.61, a PEG ratio of 8.14 and a beta of 2.73. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19.

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

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of recent research reports. TD Securities lifted their target price on Shopify from $130.00 to $156.00 and gave the stock a “hold” rating in a research report on Friday, October 3rd. Canaccord Genuity Group lifted their target price on Shopify from $115.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. DA Davidson lifted their target price on Shopify from $125.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Mizuho lifted their target price on Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, Robert W. Baird lifted their target price on Shopify from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twenty-two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.