WMS Group LLC Makes New Investment in Shopify Inc. $SHOP

WMS Group LLC acquired a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,356 shares of the software maker’s stock, valued at approximately $1,023,000. Shopify comprises about 1.3% of WMS Group LLC’s investment portfolio, making the stock its 22nd largest holding.

A number of other large investors have also made changes to their positions in the stock. Kingdom Financial Group LLC. purchased a new position in Shopify in the 4th quarter valued at about $26,000. Curio Wealth LLC purchased a new stake in Shopify in the 4th quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Shopify in the fourth quarter worth approximately $29,000. Lodestone Wealth Management LLC purchased a new position in Shopify during the fourth quarter worth approximately $31,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Shopify by 82.4% during the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of NASDAQ:SHOP opened at $108.85 on Friday. The company has a market cap of $141.25 billion, a P/E ratio of 107.77, a PEG ratio of 3.05 and a beta of 2.60. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19. The business’s 50-day simple moving average is $113.17 and its 200 day simple moving average is $129.94.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS 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 analyst estimates of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. Analysts predict that Shopify Inc. will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SHOP. UBS Group reaffirmed a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price target on shares of Shopify in a research report on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and set a $180.00 price objective on shares of Shopify in a research note on Tuesday, May 5th. Weiss Ratings downgraded shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company dropped their price objective on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Two 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

About Shopify

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.