Keybank National Association OH bought a new position in Shopify Inc. (NYSE:SHOP) (TSE:SH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,295 shares of the software maker’s stock, valued at approximately $286,000.
Several other institutional investors have also recently added to or reduced their stakes in SHOP. Russell Investments Group Ltd. increased its position in shares of Shopify by 81.5% in the first quarter. Russell Investments Group Ltd. now owns 85,786 shares of the software maker’s stock worth $5,840,000 after acquiring an additional 38,522 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Shopify by 223.0% in the first quarter. Great West Life Assurance Co. Can now owns 22,595 shares of the software maker’s stock worth $1,537,000 after acquiring an additional 15,600 shares in the last quarter. Comerica Bank purchased a new position in shares of Shopify in the first quarter worth approximately $327,000. Swiss National Bank increased its position in shares of Shopify by 10.4% in the first quarter. Swiss National Bank now owns 107,300 shares of the software maker’s stock worth $7,319,000 after acquiring an additional 10,100 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Shopify by 148.1% in the first quarter. Toronto Dominion Bank now owns 1,630 shares of the software maker’s stock worth $111,000 after acquiring an additional 973 shares in the last quarter. 53.78% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on SHOP shares. Vetr downgraded shares of Shopify from a “strong-buy” rating to a “buy” rating and set a $101.99 target price on the stock. in a research report on Thursday, June 22nd. BidaskClub downgraded shares of Shopify from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Robert W. Baird reissued an “outperform” rating on shares of Shopify in a research report on Monday, July 3rd. Barclays PLC reissued an “equal weight” rating and issued a $90.00 target price (up from $70.00) on shares of Shopify in a research report on Wednesday, August 2nd. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $95.00 target price on shares of Shopify in a research report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $93.20.
Shares of Shopify Inc. (SHOP) opened at 120.23 on Friday. Shopify Inc. has a 52 week low of $37.74 and a 52 week high of $122.50. The stock has a 50 day moving average of $119.47 and a 200-day moving average of $86.29. The firm’s market capitalization is $11.85 billion.
Shopify (NYSE:SHOP) (TSE:SH) last released its earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.05. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The business had revenue of $151.70 million during the quarter, compared to analysts’ expectations of $143.94 million. During the same period last year, the business earned ($0.04) earnings per share. The firm’s revenue was up 75.2% on a year-over-year basis. Equities analysts anticipate that Shopify Inc. will post ($0.05) earnings per share for the current fiscal year.
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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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