Shopify Inc. $SHOP is Prairie Wealth Advisors Inc.’s 7th Largest Position

Prairie Wealth Advisors Inc. lowered its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,805 shares of the software maker’s stock after selling 300 shares during the period. Shopify accounts for 1.9% of Prairie Wealth Advisors Inc.’s investment portfolio, making the stock its 7th biggest position. Prairie Wealth Advisors Inc.’s holdings in Shopify were worth $4,361,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Hummer Financial Advisory Services Inc grew its position in shares of Shopify by 3.8% in the second quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker’s stock valued at $299,000 after purchasing an additional 95 shares during the period. Salem Investment Counselors Inc. grew its position in Shopify by 16.7% during the second quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker’s stock valued at $81,000 after acquiring an additional 100 shares during the period. Moseley Investment Management Inc. grew its position in Shopify by 2.8% during the second quarter. Moseley Investment Management Inc. now owns 3,674 shares of the software maker’s stock valued at $424,000 after acquiring an additional 100 shares during the period. Tradewinds Capital Management LLC grew its position in Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after acquiring an additional 100 shares during the period. Finally, Moser Wealth Advisors LLC grew its position in Shopify by 1.0% during the second quarter. Moser Wealth Advisors LLC now owns 10,274 shares of the software maker’s stock valued at $1,185,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SHOP. Benchmark reissued a “buy” rating and set a $140.00 price target (up previously from $125.00) on shares of Shopify in a research report on Tuesday, August 5th. Citigroup boosted their price target on Shopify from $155.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 6th. JMP Securities upped their target price on Shopify from $135.00 to $185.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. Finally, Arete reiterated a “neutral” rating on shares of Shopify in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twenty-two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.68.

Shopify Stock Up 0.0%

Shares of NASDAQ SHOP opened at $179.01 on Thursday. The stock’s 50 day moving average price is $152.20 and its two-hundred day moving average price is $126.31. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19. The stock has a market capitalization of $232.65 billion, a P/E ratio of 100.01, a PEG ratio of 8.38 and a beta of 2.72.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced 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. 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 quarter in the prior year, the firm posted $0.26 earnings per share. Shopify’s revenue for the quarter was up 31.1% compared to the same quarter last year. On average, analysts anticipate that Shopify Inc. will post 1.12 EPS for the current 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.