Shopify Target of Unusually High Options Trading (NASDAQ:SHOP)

Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) saw some unusual options trading on Monday. Stock investors bought 100,154 call options on the company. This is an increase of 112% compared to the typical volume of 47,168 call options.

Institutional Trading of Shopify

A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Shopify in the fourth quarter valued at approximately $2,611,797,000. Invesco Ltd. grew its position in shares of Shopify by 9.8% during the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after purchasing an additional 1,252,074 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Shopify by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock valued at $2,043,365,000 after purchasing an additional 737,892 shares in the last quarter. Sands Capital Management LLC raised its position in shares of Shopify by 37.0% in the fourth quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock worth $1,530,187,000 after buying an additional 2,568,765 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in Shopify by 2.2% during the fourth quarter. TD Asset Management Inc now owns 8,713,762 shares of the software maker’s stock valued at $1,404,790,000 after buying an additional 185,252 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the subject of a number of recent analyst reports. Citigroup restated an “outperform” rating on shares of Shopify in a research note on Thursday, August 6th. Morgan Stanley lowered shares of Shopify from an “overweight” rating to a “buy” rating in a research report on Monday, July 13th. Canaccord Genuity Group set a $180.00 price objective on shares of Shopify and gave the stock a “buy” rating in a report on Wednesday, August 5th. BMO Capital Markets set a $165.00 price objective on shares of Shopify and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, UBS Group reiterated a “neutral” rating and issued a $145.00 target price (up from $130.00) on shares of Shopify in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $171.34.

Shopify Stock Performance

NASDAQ:SHOP traded up $1.27 on Monday, reaching $129.77. 2,137,452 shares of the company’s stock were exchanged, compared to its average volume of 10,337,076. The firm has a market cap of $166.97 billion, a price-to-earnings ratio of 87.68, a P/E/G ratio of 2.61 and a beta of 2.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.35 and a quick ratio of 5.35. The stock has a fifty day simple moving average of $136.53 and a 200-day simple moving average of $123.51. Shopify has a 52 week low of $94.00 and a 52 week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. Shopify had a net margin of 14.53% and a return on equity of 12.58%. The company had revenue of $3.58 billion for the quarter. During the same period last year, the firm earned $0.69 EPS. The business’s revenue for the quarter was up 33.7% on a year-over-year basis. As a group, sell-side analysts predict that Shopify will post 1.46 earnings per share for the current year.

Shopify Company Profile

Shopify Inc (NASDAQ:SHOP) is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow retail operations. Its platform enables merchants to create and manage online stores, sell through social media and other digital channels, and support in-person sales through Shopify’s point-of-sale solutions.

Shopify’s products and services include online storefront and website-building tools, payment processing through Shopify Payments, point-of-sale hardware and software, inventory and order management, shipping and fulfillment tools, marketing features, analytics, and financing services for eligible merchants.