Harbor Investment Advisory LLC Has $482,000 Holdings in Shopify Inc. $SHOP

Harbor Investment Advisory LLC lessened its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 4.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,180 shares of the software maker’s stock after selling 206 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Shopify were worth $482,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Cim LLC grew its stake in Shopify by 1.3% during the 1st quarter. Cim LLC now owns 12,512 shares of the software maker’s stock valued at $1,194,000 after acquiring an additional 160 shares in the last quarter. Modern Wealth Management LLC boosted its position in Shopify by 14.2% during the first quarter. Modern Wealth Management LLC now owns 2,743 shares of the software maker’s stock worth $262,000 after purchasing an additional 342 shares during the period. Anson Funds Management LP bought a new stake in Shopify during the first quarter worth approximately $955,000. Anderson Financial Strategies LLC bought a new stake in Shopify during the first quarter worth approximately $267,000. Finally, Strs Ohio acquired a new position in shares of Shopify during the first quarter worth approximately $30,577,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of research analyst reports. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 6th. ATB Capital lowered Shopify to a “sector perform” rating in a research note on Thursday, August 7th. Truist Financial upped their target price on Shopify from $95.00 to $150.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. Loop Capital lowered Shopify from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Tuesday, July 22nd. Finally, Needham & Company LLC started coverage on Shopify in a research note on Monday, July 14th. They issued a “buy” rating and a $135.00 target price for the company. Twenty-four equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.27.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $143.38 on Friday. The business’s fifty day moving average price is $133.77 and its two-hundred day moving average price is $112.03. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $156.85. The stock has a market capitalization of $186.35 billion, a price-to-earnings ratio of 80.10, a price-to-earnings-growth ratio of 6.87 and a beta of 2.69.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results 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 firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the business posted $0.26 earnings per share. The business’s revenue was up 31.1% compared to the same quarter last year. Research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.