Compass Wealth Management LLC Has $922,000 Stake in Shopify Inc. $SHOP

Compass Wealth Management LLC grew its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 212.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,203 shares of the software maker’s stock after acquiring an additional 4,219 shares during the period. Compass Wealth Management LLC’s holdings in Shopify were worth $922,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC raised its holdings in Shopify by 1.7% during the third quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock valued at $512,000 after buying an additional 59 shares in the last quarter. Accurate Wealth Management LLC increased its holdings in shares of Shopify by 2.0% during the 3rd quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock valued at $526,000 after acquiring an additional 67 shares during the last quarter. Rothschild Investment LLC raised its stake in shares of 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 acquiring an additional 75 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Shopify by 0.9% in the 3rd quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock valued at $1,228,000 after acquiring an additional 75 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Shopify by 13.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Down 1.1%

NASDAQ:SHOP opened at $136.31 on Tuesday. The firm has a market capitalization of $177.45 billion, a PE ratio of 100.97, a price-to-earnings-growth ratio of 4.08 and a beta of 2.83. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19. The firm has a 50-day moving average price of $158.92 and a 200 day moving average price of $150.91.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SHOP shares. TD Cowen reaffirmed a “hold” rating and set a $156.00 price objective on shares of Shopify in a report on Friday, October 3rd. Needham & Company LLC reissued a “buy” rating and set a $180.00 target price on shares of Shopify in a research report on Wednesday, November 5th. Stifel Nicolaus set a $175.00 price target on shares of Shopify in a report on Tuesday, November 4th. Citigroup reaffirmed a “market outperform” rating on shares of Shopify in a research report on Thursday, December 4th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $181.00 price objective (up previously from $156.00) on shares of Shopify in a research report on Wednesday, November 5th. Twenty-four investment analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the company. According to data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average price target of $171.61.

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.