Nepsis Inc. Purchases 14,452 Shares of Shopify Inc. (NYSE:SHOP)

Nepsis Inc. lifted its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323,259 shares of the software maker's stock after buying an additional 14,452 shares during the quarter. Shopify accounts for 6.1% of Nepsis Inc.'s portfolio, making the stock its 3rd biggest holding. Nepsis Inc.'s holdings in Shopify were worth $25,906,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors lifted its position in shares of Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker's stock valued at $3,840,332,000 after acquiring an additional 10,340,040 shares during the period. Vanguard Group Inc. raised its holdings in Shopify by 1.7% during the first 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 last quarter. Price T Rowe Associates Inc. MD raised its holdings in Shopify by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker's stock worth $2,642,265,000 after purchasing an additional 5,982,434 shares during the last quarter. GQG Partners LLC boosted its position in Shopify by 197.9% during the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker's stock worth $1,613,006,000 after purchasing an additional 13,885,473 shares in the last quarter. Finally, Capital International Investors grew its holdings in Shopify by 3.4% in the first quarter. Capital International Investors now owns 16,392,141 shares of the software maker's stock valued at $1,264,982,000 after purchasing an additional 542,503 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Stock Up 1.3 %

SHOP traded up $1.05 during trading on Friday, hitting $82.68. The company had a trading volume of 3,862,207 shares, compared to its average volume of 9,290,721. Shopify Inc. has a 1-year low of $45.50 and a 1-year 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 company has a market cap of $106.55 billion, a PE ratio of -486.35, a P/E/G ratio of 2.80 and a beta of 2.36. The business has a 50-day moving average of $76.26 and a 200-day moving average of $68.82.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.06. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The company's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) EPS. As a group, analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SHOP shares. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $70.00 price target on shares of Shopify in a research note on Monday, October 7th. Wedbush reaffirmed a "neutral" rating and issued a $72.00 price target (up previously from $68.00) on shares of Shopify in a report on Wednesday, August 7th. Truist Financial dropped their price objective on shares of Shopify from $65.00 to $55.00 and set a "hold" rating for the company in a research note on Tuesday, August 6th. DZ Bank downgraded Shopify from a "hold" rating to a "sell" rating in a research report on Friday, August 9th. Finally, Argus upgraded Shopify to a "strong-buy" rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $79.36.

About Shopify

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.