Franchise Capital Ltd Invests $761,000 in Shopify Inc. $SHOP

Franchise Capital Ltd acquired a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,119 shares of the software maker’s stock, valued at approximately $761,000. Shopify makes up approximately 0.3% of Franchise Capital Ltd’s investment portfolio, making the stock its 15th largest holding.

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

Analyst Ratings Changes

A number of brokerages have commented on SHOP. Scotiabank upgraded Shopify from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $165.00 to $200.00 in a research note on Thursday, January 8th. TD Securities raised Shopify to a “hold” rating in a research report on Thursday, December 4th. Raymond James Financial restated a “market perform” rating on shares of Shopify in a report on Monday, December 1st. Benchmark reiterated a “buy” rating on shares of Shopify in a research note on Wednesday, December 3rd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $181.00 target price (up from $156.00) on shares of Shopify in a research report on Wednesday, November 5th. Twenty-four analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $171.61.

Shopify Price Performance

Shares of SHOP stock opened at $157.99 on Friday. The firm has a fifty day moving average of $159.98 and a two-hundred day moving average of $149.03. The firm has a market cap of $205.68 billion, a P/E ratio of 117.03, a P/E/G ratio of 4.65 and a beta of 2.83. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted 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 business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. On average, sell-side analysts expect 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.