HighPoint Advisor Group LLC Takes Position in Shopify Inc (SHOP)

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HighPoint Advisor Group LLC acquired a new stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) in the first quarter, Holdings Channel reports. The fund acquired 986 shares of the software maker’s stock, valued at approximately $255,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHOP. Financial Advocates Investment Management increased its position in Shopify by 4.2% during the 4th quarter. Financial Advocates Investment Management now owns 3,873 shares of the software maker’s stock worth $536,000 after purchasing an additional 155 shares in the last quarter. Bollard Group LLC increased its position in Shopify by 1,935.0% during the 4th quarter. Bollard Group LLC now owns 20,350 shares of the software maker’s stock worth $2,817,000 after purchasing an additional 19,350 shares in the last quarter. Henry James International Management Inc. increased its position in Shopify by 140.7% during the 1st quarter. Henry James International Management Inc. now owns 33,947 shares of the software maker’s stock worth $7,014,000 after purchasing an additional 19,846 shares in the last quarter. Brown Advisory Inc. increased its position in Shopify by 6.9% during the 4th quarter. Brown Advisory Inc. now owns 4,927 shares of the software maker’s stock worth $682,000 after purchasing an additional 318 shares in the last quarter. Finally, AGF Investments Inc. increased its position in Shopify by 91.3% during the 4th quarter. AGF Investments Inc. now owns 65,091 shares of the software maker’s stock worth $9,012,000 after purchasing an additional 31,073 shares in the last quarter. 64.75% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE SHOP opened at $279.00 on Thursday. The company has a quick ratio of 12.57, a current ratio of 12.56 and a debt-to-equity ratio of 0.05. Shopify Inc has a 52-week low of $117.64 and a 52-week high of $280.95. The company has a market capitalization of $30.41 billion, a price-to-earnings ratio of -457.38 and a beta of 1.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.44. Shopify had a negative net margin of 6.17% and a negative return on equity of 3.74%. The company had revenue of $320.50 million during the quarter, compared to analysts’ expectations of $310.11 million. During the same period in the prior year, the company posted $0.04 earnings per share. Shopify’s revenue for the quarter was up 49.6% compared to the same quarter last year. As a group, research analysts expect that Shopify Inc will post -0.86 earnings per share for the current year.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Shopify from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Guggenheim cut shares of Shopify from a “buy” rating to a “neutral” rating in a research report on Monday, May 13th. They noted that the move was a valuation call. Morgan Stanley cut shares of Shopify from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $173.00 to $209.00 in a research report on Tuesday, May 14th. They noted that the move was a valuation call. DA Davidson upped their price target on shares of Shopify from $210.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, National Bank Financial upped their price target on shares of Shopify from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $237.71.

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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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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