Hummer Financial Advisory Services Inc Makes New Investment in Shopify Inc. (NYSE:SHOP)

Hummer Financial Advisory Services Inc purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,500 shares of the software maker’s stock, valued at approximately $200,000.

Other large investors have also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Cultivar Capital Inc. bought a new position in shares of Shopify in the second quarter worth approximately $33,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Shopify in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Shopify during the 2nd quarter valued at $39,000. Finally, Private Wealth Management Group LLC boosted its position in Shopify by 53.3% during the 1st quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock valued at $40,000 after buying an additional 180 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.5 %

Shares of NYSE SHOP traded down $0.43 during mid-day trading on Wednesday, reaching $81.50. The company had a trading volume of 2,307,984 shares, compared to its average volume of 9,333,828. The stock has a market cap of $105.03 billion, a price-to-earnings ratio of 83.61, a price-to-earnings-growth ratio of 2.77 and a beta of 2.36. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The business’s 50-day moving average is $75.37 and its 200-day moving average is $68.72. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SHOP shares. Piper Sandler reiterated a “neutral” rating and set a $67.00 target price on shares of Shopify in a report on Thursday, August 29th. Robert W. Baird upped their price objective on shares of Shopify from $79.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 target price on shares of Shopify in a research note on Tuesday, September 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price target on shares of Shopify in a research note on Thursday, August 8th. Finally, Truist Financial lowered their price target on shares of Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.97.

Shopify Profile

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.