Planning Capital Management Corp Has $137,000 Stake in Shopify Inc. (NYSE:SHOP)

Planning Capital Management Corp increased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 25.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,710 shares of the software maker’s stock after purchasing an additional 348 shares during the quarter. Planning Capital Management Corp’s holdings in Shopify were worth $137,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its position in Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares during the period. Capital World Investors boosted its position in shares of Shopify by 26.2% in the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after acquiring an additional 10,340,040 shares during the period. Vanguard Group Inc. boosted its position in shares of Shopify by 1.7% in the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after acquiring an additional 713,064 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Shopify by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after acquiring an additional 5,982,434 shares during the period. Finally, GQG Partners LLC boosted its position in shares of Shopify by 197.9% in the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after acquiring an additional 13,885,473 shares during the period. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

SHOP has been the subject of several research reports. Evercore increased their price objective on Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Mizuho increased their price objective on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. JMP Securities upped their target price on Shopify from $80.00 to $120.00 and gave the company a “market outperform” rating in a research note on Wednesday. Finally, Piper Sandler upped their target price on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Price Performance

Shares of SHOP opened at $115.13 on Thursday. 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 Inc. has a 1 year low of $48.56 and a 1 year high of $115.62. The stock has a market cap of $148.56 billion, a P/E ratio of 107.60, a price-to-earnings-growth ratio of 3.64 and a beta of 2.36. The stock’s 50-day moving average price is $80.36 and its two-hundred day moving average price is $70.50.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Shopify had a return on equity of 11.94% and a net margin of 16.84%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. On average, equities analysts predict that Shopify Inc. will post 0.76 earnings per share for the current year.

About Shopify

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.