FFG Partners LLC Acquires New Stake in Shopify Inc. $SHOP

FFG Partners LLC bought a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 50,286 shares of the software maker’s stock, valued at approximately $7,473,000. Shopify accounts for 2.0% of FFG Partners LLC’s investment portfolio, making the stock its 22nd largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Family Legacy Financial Solutions LLC acquired a new position in shares of Shopify during the second quarter worth about $25,000. Financial Gravity Companies Inc. acquired a new stake in Shopify in the 2nd quarter valued at approximately $27,000. Rothschild Investment LLC raised its position in Shopify by 47.5% in the 2nd 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 last quarter. Heartwood Wealth Advisors LLC bought a new stake in Shopify in the 3rd quarter valued at approximately $27,000. Finally, Tradewinds Capital Management LLC boosted its position in Shopify by 71.4% during the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of SHOP opened at $170.83 on Monday. The company has a market cap of $222.39 billion, a PE ratio of 126.54, a price-to-earnings-growth ratio of 6.34 and a beta of 2.82. The firm has a 50-day moving average of $161.32 and a 200-day moving average of $144.20. Shopify Inc. has a one year low of $69.84 and a one year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. Analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SHOP. Canaccord Genuity Group lifted their price objective on shares of Shopify from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $180.00 target price on shares of Shopify in a research report on Wednesday, November 5th. DZ Bank upgraded shares of Shopify from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. increased their price objective on shares of Shopify from $179.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Finally, Stifel Nicolaus set a $175.00 price objective on Shopify in a report on Tuesday, November 4th. Twenty-two analysts have rated the stock with a Buy rating and twenty-three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $168.69.

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.