Callan Family Office LLC Purchases 9,409 Shares of Shopify Inc. $SHOP

Callan Family Office LLC grew its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 103.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,532 shares of the software maker’s stock after acquiring an additional 9,409 shares during the period. Callan Family Office LLC’s holdings in Shopify were worth $2,754,000 as of its most recent SEC filing.

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

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $114.02 on Thursday. The business has a fifty day moving average price of $156.24 and a 200-day moving average price of $151.25. The company has a market capitalization of $148.44 billion, a PE ratio of 84.46, a PEG ratio of 3.51 and a beta of 2.83. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SHOP shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $181.00 target price (up previously from $156.00) on shares of Shopify in a research report on Wednesday, November 5th. National Bankshares increased their price objective on Shopify from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Canaccord Genuity Group raised their price objective on Shopify from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Stifel Nicolaus set a $175.00 target price on shares of Shopify in a research report on Tuesday, November 4th. Finally, BNP Paribas Exane began coverage on shares of Shopify in a research note on Monday, November 24th. They issued a “neutral” rating for the company. Twenty-five equities research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $171.70.

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.