Savant Capital LLC Boosts Stock Position in Shopify Inc. $SHOP

Savant Capital LLC increased its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 59.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,845 shares of the software maker’s stock after buying an additional 8,515 shares during the quarter. Savant Capital LLC’s holdings in Shopify were worth $3,395,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. Financial Gravity Companies Inc. purchased a new position in shares of Shopify during the 2nd quarter worth $27,000. Rothschild Investment LLC increased its position in Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Heartwood Wealth Advisors LLC acquired a new stake in Shopify during the third quarter worth about $27,000. Tradewinds Capital Management LLC raised its stake in Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares during the period. Finally, Estabrook Capital Management acquired a new position in Shopify in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NASDAQ SHOP opened at $112.05 on Friday. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19. The stock’s 50-day moving average is $154.35 and its two-hundred day moving average is $150.86. The company has a market cap of $145.87 billion, a price-to-earnings ratio of 83.00, a price-to-earnings-growth ratio of 3.28 and a beta of 2.83.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SHOP. DZ Bank upgraded shares of Shopify from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Shopify in a research report on Monday, December 29th. Arete Research set a $175.00 target price on Shopify in a research report on Monday. Morgan Stanley reaffirmed an “overweight” rating and issued a $192.00 price target (up previously from $165.00) on shares of Shopify in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Shopify in a research report on Tuesday. Twenty-five research analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $171.70.

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.