Intrinsic Value Partners LLC Decreases Stock Position in Shopify Inc. $SHOP

Intrinsic Value Partners LLC reduced its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 0.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,694 shares of the software maker’s stock after selling 82 shares during the quarter. Shopify makes up about 1.4% of Intrinsic Value Partners LLC’s holdings, making the stock its 19th largest position. Intrinsic Value Partners LLC’s holdings in Shopify were worth $1,580,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Family Legacy Financial Solutions LLC purchased a new stake in Shopify in the second quarter worth $25,000. Coastline Trust Co purchased a new stake in Shopify in the second quarter worth $29,000. Smithfield Trust Co increased its position in Shopify by 149.2% in the first quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock worth $30,000 after buying an additional 188 shares during the last quarter. Dagco Inc. purchased a new stake in Shopify in the first quarter worth $30,000. Finally, Global Wealth Strategies & Associates increased its position in Shopify by 182.8% in the second quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock worth $30,000 after buying an additional 170 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on SHOP shares. Cantor Fitzgerald set a $156.00 target price on Shopify and gave the stock a “neutral” rating in a research report on Wednesday, August 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $149.00 price target on shares of Shopify in a report on Tuesday. Arete Research raised Shopify to a “hold” rating in a report on Wednesday, July 23rd. Wells Fargo & Company raised their price target on Shopify from $107.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, June 6th. Finally, Canaccord Genuity Group raised their price target on Shopify from $115.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Twenty-two research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Shopify presently has a consensus rating of “Hold” and an average target price of $150.59.

Shopify Stock Performance

NASDAQ:SHOP opened at $161.14 on Friday. The firm has a market capitalization of $209.43 billion, a price-to-earnings ratio of 90.02, a P/E/G ratio of 7.17 and a beta of 2.72. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $162.60. The stock has a fifty day moving average of $142.78 and a 200 day moving average of $117.13.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm’s quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. Equities analysts forecast that Shopify Inc. will post 1.12 earnings per share 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.