Jeppson Wealth Management LLC Has $1.68 Million Position in Shopify Inc. (NYSE:SHOP)

Jeppson Wealth Management LLC lifted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,498 shares of the software maker’s stock after buying an additional 282 shares during the period. Jeppson Wealth Management LLC’s holdings in Shopify were worth $1,684,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Private Wealth Management Group LLC bought a new position in shares of Shopify in the fourth quarter valued at $26,000. DSM Capital Partners LLC acquired a new stake in Shopify in the fourth quarter valued at $28,000. Jones Financial Companies Lllp bought a new position in shares of Shopify in the 4th quarter valued at about $28,000. Your Advocates Ltd. LLP increased its stake in shares of Shopify by 4,344.4% during the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after purchasing an additional 391 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new stake in shares of Shopify in the 4th quarter valued at about $39,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SHOP has been the subject of a number of research analyst reports. Mizuho reduced their price target on Shopify from $75.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Benchmark restated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price objective on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group raised their target price on shares of Shopify from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, Evercore upped their price target on shares of Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.11.

Shopify Price Performance

Shares of NYSE SHOP traded down $0.39 during midday trading on Friday, reaching $69.72. 301,341 shares of the company were exchanged, compared to its average volume of 9,924,560. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The stock has a market cap of $89.85 billion, a P/E ratio of -412.35, a PEG ratio of 2.48 and a beta of 2.35. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average price is $66.97 and its 200-day moving average price is $68.73.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the firm earned ($0.08) EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

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.