Weaver Capital Management LLC Has $4.02 Million Holdings in Shopify Inc. (NYSE:SHOP)

by · The Markets Daily

Weaver Capital Management LLC boosted its stake in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 63.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,186 shares of the software maker’s stock after purchasing an additional 19,409 shares during the quarter. Shopify comprises 1.2% of Weaver Capital Management LLC’s portfolio, making the stock its 13th largest holding. Weaver Capital Management LLC’s holdings in Shopify were worth $4,022,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group grew its position in Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Cultivar Capital Inc. acquired a new position in Shopify in the 2nd quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Shopify during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Shopify during the second quarter valued at approximately $39,000. Finally, Private Wealth Management Group LLC lifted its position in Shopify by 53.3% in the first quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock worth $40,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE:SHOP opened at $81.57 on Wednesday. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a market cap of $105.12 billion, a price-to-earnings ratio of 83.23, a PEG ratio of 2.77 and a beta of 2.36. 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 firm has a 50 day simple moving average of $76.78 and a 200 day simple moving average of $68.92.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SHOP shares. Loop Capital boosted their price target on shares of Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Evercore boosted their price target on Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. UBS Group increased their target price on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. KeyCorp assumed coverage on shares of Shopify in a research report on Thursday, July 25th. They set an “overweight” rating and a $80.00 price target on the stock. Finally, JMP Securities reissued a “market outperform” rating and set a $80.00 price target on shares of Shopify in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.36.

Check Out Our Latest Report on Shopify

Shopify Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP).