Annis Gardner Whiting Capital Advisors LLC Increases Stake in Shopify Inc. $SHOP

Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1,729.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,399 shares of the software maker’s stock after purchasing an additional 13,612 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC’s holdings in Shopify were worth $2,140,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Heartwood Wealth Advisors LLC bought a new stake in Shopify in the 3rd quarter valued at $27,000. Rothschild Investment LLC grew its position in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in shares of Shopify in the second quarter worth about $27,000. Tradewinds Capital Management LLC increased its holdings in shares of Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Finally, Estabrook Capital Management purchased a new stake in shares of Shopify in the second quarter worth about $29,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Oppenheimer restated an “outperform” rating on shares of Shopify in a report on Monday, December 1st. Wolfe Research upgraded Shopify from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 6th. Zacks Research lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Citigroup restated a “market outperform” rating on shares of Shopify in a research report on Thursday, December 4th. Finally, TD Cowen reiterated a “hold” rating and set a $156.00 price objective on shares of Shopify in a research report on Friday, October 3rd. Twenty-four investment analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $171.61.

Shopify Stock Up 1.0%

NASDAQ SHOP opened at $138.92 on Thursday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The firm has a market capitalization of $180.85 billion, a price-to-earnings ratio of 102.90, a PEG ratio of 4.06 and a beta of 2.83. The company has a fifty day moving average of $158.72 and a two-hundred day moving average of $151.01.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. Equities research analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

About Shopify

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.