22,762 Shares in Shopify Inc. $SHOP Bought by Blue Jean Financial LLC

Blue Jean Financial LLC bought a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,762 shares of the software maker’s stock, valued at approximately $3,664,000. Shopify accounts for 3.0% of Blue Jean Financial LLC’s holdings, making the stock its 2nd largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kingdom Financial Group LLC. acquired a new position in Shopify in the fourth quarter valued at $26,000. Curio Wealth LLC acquired a new position in Shopify in the fourth quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shopify in the fourth quarter valued at $29,000. Lloyd Advisory Services LLC. acquired a new position in Shopify in the fourth quarter valued at $31,000. Finally, Lodestone Wealth Management LLC acquired a new position in Shopify in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

SHOP has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Barclays set a $126.00 target price on shares of Shopify and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Robert W. Baird set a $150.00 target price on shares of Shopify in a report on Wednesday, May 6th. Jefferies Financial Group restated a “hold” rating and issued a $140.00 target price (down from $150.00) on shares of Shopify in a report on Tuesday, May 5th. Finally, Piper Sandler restated an “overweight” rating and issued a $150.00 target price (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Trading Down 2.0%

Shares of NASDAQ SHOP opened at $108.24 on Friday. The firm’s 50-day moving average price is $113.99 and its 200-day moving average price is $131.61. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19. The firm has a market capitalization of $140.46 billion, a P/E ratio of 107.17, a P/E/G ratio of 3.03 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, beating the consensus estimate of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Equities research analysts forecast that Shopify Inc. will post 1.36 EPS for the current year.

Shopify 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.