Shopify Inc. (NYSE:SHOP) Shares Purchased by Total Clarity Wealth Management Inc.

Total Clarity Wealth Management Inc. grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 23.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,140 shares of the software maker’s stock after acquiring an additional 790 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Shopify were worth $273,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. DSM Capital Partners LLC acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp acquired a new stake in Shopify in the 4th quarter valued at approximately $28,000. Cultivar Capital Inc. acquired a new stake in Shopify in the 2nd quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. bought a new stake in Shopify during the 2nd quarter valued at $33,000. Finally, OLD Point Trust & Financial Services N A acquired a new position in Shopify during the 4th quarter worth $39,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $73.59 on Tuesday. The company has a market capitalization of $94.83 billion, a PE ratio of -432.88, a PEG ratio of 2.39 and a beta of 2.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The company’s 50 day moving average price is $67.50 and its 200 day moving average price is $68.28. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the business posted ($0.08) EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. Research analysts expect that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SHOP has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Argus raised shares of Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. Moffett Nathanson cut shares of Shopify from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $74.00 to $65.00 in a report on Thursday, June 6th. JMP Securities reissued a “market outperform” rating and set a $80.00 target price on shares of Shopify in a report on Tuesday, September 10th. Finally, Evercore increased their price target on Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $77.37.

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.