ORG Wealth Partners LLC Acquires New Shares in Shopify Inc. (NYSE:SHOP)

ORG Wealth Partners LLC acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,862 shares of the software maker’s stock, valued at approximately $470,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SHOP. Norden Group LLC purchased a new position in shares of Shopify during the 1st quarter worth $3,618,000. Silvercrest Asset Management Group LLC boosted its stake in Shopify by 735.0% during the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after buying an additional 46,589 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Shopify by 5.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock valued at $40,838,000 after acquiring an additional 28,639 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Shopify by 54.2% in the 2nd quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after acquiring an additional 1,657,251 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Shopify by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after purchasing an additional 713,064 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SHOP. Evercore raised their target price on Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Citigroup lifted their price objective on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a report on Monday, September 30th. Piper Sandler reiterated a “neutral” rating and set a $67.00 target price on shares of Shopify in a report on Thursday, August 29th. UBS Group raised their price target on shares of Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company increased their price objective on Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $78.97.

Shopify Trading Up 0.5 %

NYSE:SHOP opened at $83.63 on Monday. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The business has a 50 day simple moving average of $74.19 and a 200 day simple moving average of $68.64. The firm has a market capitalization of $107.77 billion, a P/E ratio of 84.94, a P/E/G ratio of 2.77 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the business earned ($0.08) EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities research analysts predict that Shopify Inc. will post 0.76 EPS for the current year.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.