Shopify Inc. $SHOP Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 15.9% during the first quarter, Holdings Channel.com reports. The firm owned 229,628 shares of the software maker’s stock after buying an additional 31,563 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Shopify were worth $27,238,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Kingdom Financial Group LLC. acquired a new stake in shares of Shopify during the 4th quarter worth approximately $26,000. Curio Wealth LLC acquired a new position in Shopify in the fourth quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shopify in the fourth quarter valued at approximately $29,000. Lodestone Wealth Management LLC purchased a new position in Shopify in the fourth quarter worth approximately $31,000. Finally, Sound Income Strategies LLC grew its position in Shopify by 82.4% in the fourth quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after acquiring an additional 89 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of research analyst reports. Robert W. Baird set a $150.00 target price on Shopify in a research report on Wednesday, May 6th. Citizens Jmp lowered their price target on Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. Citigroup reissued a “market outperform” rating on shares of Shopify in a research report on Thursday, June 18th. Barclays set a $126.00 price objective on shares of Shopify and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company decreased their target price on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Shopify Stock Performance

Shares of SHOP opened at $114.21 on Tuesday. The company’s 50-day simple moving average is $112.42 and its 200-day simple moving average is $127.79. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The stock has a market capitalization of $148.21 billion, a PE ratio of 113.08, a P/E/G ratio of 3.21 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. The firm had revenue of $3.17 billion during 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%. On average, sell-side analysts predict that Shopify Inc. will post 1.39 earnings per share for the current year.

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.