WMS Group LLC Buys Shares of 6,356 Shopify Inc. $SHOP

WMS Group LLC bought a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,356 shares of the software maker’s stock, valued at approximately $1,023,000. Shopify accounts for approximately 1.3% of WMS Group LLC’s investment portfolio, making the stock its 22nd largest holding.

Other large investors have also modified their holdings of the company. Kingdom Financial Group LLC. acquired a new stake in shares of Shopify during the fourth quarter worth $26,000. Curio Wealth LLC acquired a new position in Shopify in the 4th quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shopify in the 4th quarter valued at $29,000. Lodestone Wealth Management LLC purchased a new position in Shopify during the 4th quarter worth $31,000. Finally, Sound Income Strategies LLC raised its position in Shopify by 82.4% during the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $108.85 on Friday. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19. The firm has a market capitalization of $141.25 billion, a P/E ratio of 107.77, a PEG ratio of 3.05 and a beta of 2.60. The company’s fifty day moving average is $113.17 and its two-hundred day moving average is $129.94.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.08 billion. On average, sell-side analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on SHOP shares. National Bank Financial lowered their target price on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Citigroup reissued a “market outperform” rating on shares of Shopify in a report on Thursday. Weiss Ratings downgraded shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Shopify in a report on Tuesday, May 5th. Finally, Barclays set a $126.00 price objective on Shopify and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Two 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.17.

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.