4,867 Shares in Shopify Inc. $SHOP Purchased by Lee Johnson Capital Management LLC

Lee Johnson Capital Management LLC bought a new stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,867 shares of the software maker’s stock, valued at approximately $723,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Calamos Wealth Management LLC lifted its position in Shopify by 472.6% in the third quarter. Calamos Wealth Management LLC now owns 21,720 shares of the software maker’s stock worth $3,228,000 after purchasing an additional 17,927 shares during the period. Sax Wealth Advisors LLC raised its stake in shares of Shopify by 3.2% in the 3rd quarter. Sax Wealth Advisors LLC now owns 6,555 shares of the software maker’s stock worth $974,000 after buying an additional 206 shares in the last quarter. Forefront Wealth Partners LLC lifted its holdings in shares of Shopify by 6.0% in the third quarter. Forefront Wealth Partners LLC now owns 2,630 shares of the software maker’s stock valued at $391,000 after buying an additional 149 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Shopify by 0.9% in the third quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock valued at $1,228,000 after buying an additional 75 shares during the period. Finally, Weaver Capital Management LLC boosted its stake in Shopify by 0.5% during the third quarter. Weaver Capital Management LLC now owns 53,620 shares of the software maker’s stock valued at $7,968,000 after buying an additional 285 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Down 2.5%

SHOP opened at $163.74 on Wednesday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19. The stock has a fifty day moving average of $161.40 and a 200-day moving average of $145.03. The firm has a market capitalization of $213.16 billion, a P/E ratio of 121.29, a PEG ratio of 6.23 and a beta of 2.82.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. On average, analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SHOP shares. KeyCorp boosted their price target on shares of Shopify from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shopify in a research note on Monday. Benchmark restated a “buy” rating on shares of Shopify in a report on Wednesday, December 3rd. National Bankshares upped their price target on Shopify from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Finally, CIBC reiterated an “outperform” rating on shares of Shopify in a research report on Wednesday, November 5th. Twenty-two analysts have rated the stock with a Buy rating and twenty-three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $168.69.

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.