Shopify Inc. $SHOP Shares Sold by Syon Capital LLC

Syon Capital LLC lowered its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 33.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,989 shares of the software maker’s stock after selling 3,545 shares during the period. Syon Capital LLC’s holdings in Shopify were worth $798,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Norris Financial Group LLC acquired a new position in shares of Shopify in the first quarter valued at approximately $1,586,000. Infusive Asset Management Inc. boosted its position in Shopify by 27.4% during the first quarter. Infusive Asset Management Inc. now owns 43,611 shares of the software maker’s stock worth $5,173,000 after acquiring an additional 9,374 shares during the last quarter. OMERS ADMINISTRATION Corp grew its stake in Shopify by 18.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 58,044 shares of the software maker’s stock worth $6,876,000 after acquiring an additional 9,096 shares during the period. Ninepoint Partners LP purchased a new stake in Shopify in the 2nd quarter worth approximately $29,027,000. Finally, The Manufacturers Life Insurance Company grew its stake in Shopify by 8.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker’s stock worth $998,137,000 after acquiring an additional 660,198 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. BMO Capital Markets set a $165.00 price target on Shopify and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Canaccord Genuity Group set a $180.00 price objective on Shopify and gave the company a “buy” rating in a research report on Wednesday, August 5th. Citizens Jmp upped their target price on Shopify from $150.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on Shopify from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded Shopify from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.84.

Shopify Stock Performance

NASDAQ:SHOP opened at $145.09 on Monday. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.01. The company has a market cap of $186.68 billion, a P/E ratio of 98.03, a P/E/G ratio of 2.96 and a beta of 2.61. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The firm’s 50 day moving average is $134.20 and its two-hundred day moving average is $122.76.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data 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. The company had revenue of $3.58 billion during the quarter. Shopify had a net margin of 14.53% and a return on equity of 12.58%. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. Analysts expect that Shopify Inc. will post 1.45 EPS for the current year.

Shopify Company 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.