WMG Financial Advisors LLC Buys 5,154 Shares of Shopify Inc. $SHOP

WMG Financial Advisors LLC lifted its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 211.2% during the first quarter, Holdings Channel.com reports. The firm owned 7,594 shares of the software maker’s stock after buying an additional 5,154 shares during the period. WMG Financial Advisors LLC’s holdings in Shopify were worth $901,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. National Bank Financial dropped their target price on Shopify from $200.00 to $155.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. DA Davidson lowered their price objective on Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. UBS Group reiterated a “neutral” rating on shares of Shopify in a research report on Thursday, May 28th. Royal Bank Of Canada reissued an “outperform” rating and set a $170.00 price objective on shares of Shopify in a report on Wednesday, May 6th. Finally, Weiss Ratings downgraded shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $157.17.

Shopify Stock Down 2.3%

SHOP stock opened at $114.21 on Tuesday. The business’s fifty day moving average is $112.42 and its 200-day moving average is $127.79. The company has a market cap of $148.21 billion, a P/E ratio of 113.08, a price-to-earnings-growth ratio of 3.21 and a beta of 2.60. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. Research analysts anticipate that Shopify Inc. will post 1.39 earnings per share for the current fiscal year.

Shopify Company 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.