Paragon Capital Management LLC Acquires Shares of 350 Shopify Inc (SHOP)

Paragon Capital Management LLC acquired a new position in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 350 shares of the software maker’s stock, valued at approximately $72,000.

Other large investors have also added to or reduced their stakes in the company. Capital Financial Planning LLC purchased a new position in Shopify during the 4th quarter valued at about $26,000. We Are One Seven LLC purchased a new position in Shopify during the 4th quarter valued at about $27,000. Murphy Pohlad Asset Management LLC purchased a new position in Shopify during the 4th quarter valued at about $27,000. Mackey Komara & Dankovich LLC purchased a new position in Shopify during the 4th quarter valued at about $28,000. Finally, Optimum Investment Advisors purchased a new position in Shopify during the 4th quarter valued at about $28,000. 64.95% of the stock is currently owned by institutional investors.

SHOP has been the subject of several recent research reports. Wells Fargo & Co initiated coverage on Shopify in a research note on Tuesday, December 18th. They issued an “outperform” rating and a $175.00 price target for the company. DA Davidson raised Shopify from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Friday, December 21st. Zacks Investment Research cut Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Wedbush reissued an “outperform” rating and issued a $177.00 price target on shares of Shopify in a research note on Monday, January 28th. Finally, Royal Bank of Canada boosted their price target on Shopify from $159.00 to $180.00 and gave the company a “sector perform” rating in a research note on Monday, February 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Shopify currently has an average rating of “Buy” and a consensus price target of $191.00.

Shares of SHOP stock traded up $3.20 during trading hours on Monday, reaching $218.03. 1,758,835 shares of the company’s stock were exchanged, compared to its average volume of 1,421,745. Shopify Inc has a fifty-two week low of $113.68 and a fifty-two week high of $219.90. The firm has a market cap of $23.72 billion, a PE ratio of -357.43 and a beta of 1.53. The company has a quick ratio of 15.35, a current ratio of 15.35 and a debt-to-equity ratio of 0.01.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 12th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.32. Shopify had a negative return on equity of 3.52% and a negative net margin of 6.01%. The company had revenue of $344.00 million during the quarter, compared to analyst estimates of $327.45 million. During the same period in the previous year, the company earned $0.15 earnings per share. The company’s quarterly revenue was up 54.3% compared to the same quarter last year. As a group, equities analysts predict that Shopify Inc will post -0.99 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Paragon Capital Management LLC Acquires Shares of 350 Shopify Inc (SHOP)” was originally reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The original version of this piece of content can be read at https://www.baseballdailydigest.com/news/2019/04/15/paragon-capital-management-llc-acquires-shares-of-350-shopify-inc-shop.html.

Shopify Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

Featured Article: The basics of gap trading strategies

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc (NYSE:SHOP) (TSE:SHOP).

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.