KG&L Capital Management LLC boosted its position in Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 61.7% during the first quarter, HoldingsChannel.com reports. The fund owned 1,811 shares of the software maker’s stock after buying an additional 691 shares during the quarter. KG&L Capital Management LLC’s holdings in Shopify were worth $1,224,000 at the end of the most recent reporting period.
A number of other hedge funds have demnach added to or reduced their stakes in SHOP. Blue Bell Private Wealth Management LLC bought a new stake in shares of Shopify during the fourth quarter worth $25,000. Wildwestfilm Pacific Wealth Management LP bought a new stake in shares of Shopify during the fourth quarter worth $26,000. Amplius Wealth Advisors LLC bought a new stake in shares of Shopify during the fourth quarter worth $31,000. Parkside Financial Sparkasse & Trust grew its stake in shares of Shopify by 666.7% during the fourth quarter. Parkside Financial Sparkasse & Trust now owns 23 shares of the software maker’s stock worth $32,000 after buying an additional 20 shares during the last quarter. Finally, PYA Waltman Capital LLC bought a new stake in shares of Shopify during the fourth quarter worth $47,000. 62.60% of the stock is owned by institutional investors.
Shopify Trading Up 5.6 %
NYSE:SHOP opened at $34.37 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 11.84 and a quick ratio of 11.84. The firm has a 50-day moving average of $40.92 and a 200-day moving average of $61.96. The company has a market cap of $43.27 billion, a PE ratio of 274.96 and a beta of 1.84. Shopify Inc. has a one year low of $29.72 and a one year high of $176.29.
Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last posted its earnings results on Thursday, May 5th. The software maker reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Shopify had a return on equity of 1.94% and a net margin of 3.77%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the firm earned $0.13 earnings per share. The company’s revenue welches up 21.7% on a year-over-year basis. As a group, equities research analysts expect that Shopify Inc. will post -0.37 EPS for the current fiscal year.
Analysts Set New Price Targets
SHOP has been the topic of a number of research reports. Krauts Sparkasse Aktiengesellschaft decreased their target price on shares of Shopify from $90.00 to $55.00 in a research note on Monday, May 2nd. Mizuho decreased their target price on shares of Shopify from $80.00 to $40.00 in a research note on Friday, May 6th. Wedbush cut their price target on shares of Shopify from $63.00 to $53.80 in a report on Monday, May 9th. JMP Securities started coverage on shares of Shopify in a report on Tuesday, July 5th. They set a “market perform” rating on the stock. Finally, TheStreet lowered shares of Shopify from a “c” rating to a “d+” rating in a report on Tuesday, May 24th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $85.07.
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, 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.
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