FFG Partners LLC Takes $7.47 Million Position in Shopify Inc. $SHOP

FFG Partners LLC purchased a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 50,286 shares of the software maker’s stock, valued at approximately $7,473,000. Shopify makes up 2.0% of FFG Partners LLC’s investment portfolio, making the stock its 22nd largest holding.

Several other large investors have also recently bought and sold shares of SHOP. Family Legacy Financial Solutions LLC acquired a new stake in shares of Shopify in the 2nd quarter valued at $25,000. Financial Gravity Companies Inc. acquired a new stake in Shopify in the second quarter worth about $27,000. Rothschild Investment LLC raised its holdings in Shopify by 47.5% during the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Heartwood Wealth Advisors LLC acquired a new position in Shopify during the 3rd quarter valued at about $27,000. Finally, Tradewinds Capital Management LLC lifted its position in Shopify by 71.4% during the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SHOP. Benchmark reissued a “buy” rating on shares of Shopify in a research note on Wednesday, December 3rd. Raymond James Financial reaffirmed a “market perform” rating on shares of Shopify in a report on Monday, December 1st. Citigroup reissued a “market outperform” rating on shares of Shopify in a research note on Thursday, December 4th. Bank of America lifted their price objective on Shopify from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Finally, National Bankshares increased their target price on Shopify from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Twenty-two equities research analysts have rated the stock with a Buy rating and twenty-three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Shopify presently has an average rating of “Hold” and an average target price of $168.69.

Shopify Trading Up 0.8%

SHOP stock opened at $170.83 on Monday. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19. The firm has a market cap of $222.39 billion, a PE ratio of 126.54, a P/E/G ratio of 6.34 and a beta of 2.82. The business’s 50-day moving average price is $161.32 and its two-hundred day moving average price is $144.20.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, topping 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 analyst estimates of $2.75 billion. On average, analysts forecast that Shopify Inc. will post 1.12 earnings per share 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.