Shopify Inc. $SHOP Shares Purchased by Moseley Investment Management Inc.

Moseley Investment Management Inc. lifted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 2.8% in the second quarter, HoldingsChannel reports. The firm owned 3,674 shares of the software maker’s stock after buying an additional 100 shares during the quarter. Moseley Investment Management Inc.’s holdings in Shopify were worth $424,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SHOP. Family Legacy Financial Solutions LLC acquired a new position in shares of Shopify in the second quarter valued at approximately $25,000. Coastline Trust Co acquired a new position in shares of Shopify in the second quarter valued at approximately $29,000. Smithfield Trust Co grew its holdings in shares of Shopify by 149.2% in the first quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock valued at $30,000 after purchasing an additional 188 shares in the last quarter. Dagco Inc. acquired a new position in shares of Shopify in the first quarter valued at approximately $30,000. Finally, Global Wealth Strategies & Associates grew its holdings in shares of Shopify by 182.8% in the second quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock valued at $30,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SHOP. TD Cowen restated a “hold” rating and issued a $156.00 price objective on shares of Shopify in a report on Friday, October 3rd. JMP Securities lifted their price target on shares of Shopify from $135.00 to $185.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. ATB Capital downgraded shares of Shopify to a “sector perform” rating in a research note on Thursday, August 7th. National Bankshares lifted their price target on shares of Shopify from $140.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, TD Securities lifted their price target on shares of Shopify from $130.00 to $156.00 and gave the stock a “hold” rating in a research note on Friday, October 3rd. Twenty-two analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $151.95.

Shopify Trading Down 1.5%

Shares of NASDAQ:SHOP opened at $163.87 on Friday. The company has a market capitalization of $212.98 billion, a PE ratio of 91.55, a P/E/G ratio of 7.79 and a beta of 2.72. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $169.69. The firm has a 50 day simple moving average of $145.96 and a 200-day simple moving average of $118.77.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The company’s revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. As a group, equities research analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Shopify Company Profile

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.