Seven Bridges Advisors LLC acquired a new position in Shopify Inc. (NYSE:SHOP) (TSE:SH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,379 shares of the software maker’s stock, valued at approximately $120,000.
A number of other institutional investors have also modified their holdings of SHOP. Sanctuary Wealth Advisors LLC purchased a new position in Shopify during the second quarter valued at about $3,217,000. TD Asset Management Inc. raised its position in Shopify by 96.7% in the second quarter. TD Asset Management Inc. now owns 607,330 shares of the software maker’s stock valued at $52,657,000 after buying an additional 298,510 shares in the last quarter. IFP Advisors Inc raised its position in Shopify by 261.3% in the second quarter. IFP Advisors Inc now owns 4,606 shares of the software maker’s stock valued at $400,000 after buying an additional 3,331 shares in the last quarter. Korea Investment CORP purchased a new position in Shopify during the second quarter valued at about $364,000. Finally, World Asset Management Inc purchased a new position in Shopify during the second quarter valued at about $401,000. 61.47% of the stock is owned by institutional investors.
Shopify Inc. (SHOP) opened at 95.19 on Thursday. Shopify Inc. has a 52-week low of $37.00 and a 52-week high of $105.79. The company’s 50 day moving average is $92.21 and its 200 day moving average is $77.59. The firm’s market cap is $9.38 billion.
Shopify (NYSE:SHOP) (TSE:SH) last issued its earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. The business had revenue of $151.70 million for the quarter, compared to the consensus estimate of $143.94 million. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The business’s quarterly revenue was up 75.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. Equities research analysts forecast that Shopify Inc. will post ($0.05) EPS for the current fiscal year.
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Several equities analysts have issued reports on the stock. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target (up from $100.00) on shares of Shopify in a report on Tuesday. Vetr lowered shares of Shopify from a “strong-buy” rating to a “hold” rating and set a $107.64 price target on the stock. in a report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Shopify in a report on Wednesday. Barclays PLC reaffirmed an “equal weight” rating and issued a $90.00 price target (up from $70.00) on shares of Shopify in a report on Wednesday, August 2nd. Finally, Robert W. Baird lifted their price target on shares of Shopify from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $88.33.
Shopify Company Profile
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
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