Creative Planning Grows Stake in Shopify Inc. (NYSE:SHOP)

Creative Planning raised its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 392,415 shares of the software maker's stock after buying an additional 16,375 shares during the period. Creative Planning's holdings in Shopify were worth $31,448,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SHOP. Oliver Lagore Vanvalin Investment Group grew its stake in shares of Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker's stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Cultivar Capital Inc. purchased a new stake in Shopify in the second quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. acquired a new position in Shopify during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Shopify in the second quarter valued at approximately $39,000. Finally, Private Wealth Management Group LLC grew its holdings in shares of Shopify by 53.3% in the first quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker's stock valued at $40,000 after purchasing an additional 180 shares in the last quarter. Institutional investors own 69.27% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SHOP shares. JPMorgan Chase & Co. upped their price objective on Shopify from $74.00 to $76.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 20th. Piper Sandler reiterated a "neutral" rating and issued a $67.00 price objective on shares of Shopify in a research note on Thursday, August 29th. Argus upgraded Shopify to a "strong-buy" rating in a report on Thursday, August 8th. Loop Capital increased their price target on Shopify from $80.00 to $90.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Finally, Evercore boosted their price objective on shares of Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.36.

Shopify Trading Down 0.0 %

SHOP stock traded down $0.03 during midday trading on Monday, hitting $82.65. The stock had a trading volume of 5,437,078 shares, compared to its average volume of 9,271,943. The business has a fifty day moving average price of $76.54 and a two-hundred day moving average price of $68.88. The firm has a market cap of $106.51 billion, a P/E ratio of 84.34, a price-to-earnings-growth ratio of 2.77 and a beta of 2.36. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57.

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