St. Louis Trust Co Acquires New Stake in Shopify Inc. $SHOP

St. Louis Trust Co acquired a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 4th quarter, HoldingsChannel reports. The firm acquired 7,221 shares of the software maker’s stock, valued at approximately $1,162,000.

Several other institutional investors have also bought and sold shares of SHOP. Kingdom Financial Group LLC. purchased a new position in Shopify in the fourth quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shopify during the 4th quarter valued at $29,000. Lodestone Wealth Management LLC bought a new stake in Shopify during the 4th quarter valued at $31,000. Sound Income Strategies LLC raised its holdings in Shopify by 82.4% during the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock valued at $31,000 after acquiring an additional 89 shares during the period. Finally, Lloyd Advisory Services LLC. bought a new stake in Shopify during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SHOP shares. Phillip Securities raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Needham & Company LLC reissued a “buy” rating and set a $180.00 target price on shares of Shopify in a report on Tuesday, May 5th. Wedbush lowered their target price on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Barclays set a $126.00 target price on shares of Shopify and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Finally, Piper Sandler reissued an “overweight” rating and set a $150.00 target price (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $158.42.

Shopify Stock Performance

Shopify stock opened at $103.00 on Friday. The stock has a market cap of $133.66 billion, a P/E ratio of 101.98, a PEG ratio of 2.89 and a beta of 2.64. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The firm’s fifty day moving average price is $116.29 and its 200-day moving average price is $135.86.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping the consensus estimate of $0.22 by $998.78. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. Sell-side analysts predict that Shopify Inc. will post 1.36 earnings per share for the current year.

Shopify 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.