Shopify Inc. (NYSE:SHOP) Shares Bought by TD Asset Management Inc.

TD Asset Management Inc. increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SH) by 96.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 607,330 shares of the software maker’s stock after buying an additional 298,510 shares during the period. TD Asset Management Inc. owned approximately 0.77% of Shopify worth $52,657,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SHOP. FNY Partners Fund LP bought a new position in shares of Shopify during the first quarter worth approximately $102,000. 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 buying an additional 973 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Shopify during the first quarter worth approximately $116,000. FNY Managed Accounts LLC bought a new position in shares of Shopify during the first quarter worth approximately $136,000. Finally, Soros Fund Management LLC bought a new position in shares of Shopify during the first quarter worth approximately $204,000. Institutional investors and hedge funds own 61.47% of the company’s stock.

Shopify Inc. (SHOP) opened at 96.51 on Wednesday. The stock’s market cap is $9.51 billion. The firm has a 50 day moving average of $91.55 and a 200-day moving average of $76.40. Shopify Inc. has a 12-month low of $37.00 and a 12-month high of $105.79.

Shopify (NYSE:SHOP) (TSE:SH) last issued its earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share (EPS) 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 quarter in the prior year, the business posted ($0.04) EPS. The company’s revenue for the quarter was up 75.2% on a year-over-year basis. On average, analysts expect that Shopify Inc. will post ($0.05) earnings per share for the current year.

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A number of brokerages have commented on SHOP. Wedbush restated an “outperform” rating and issued a $115.00 target price (up from $100.00) on shares of Shopify in a research note on Tuesday. Vetr downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating and set a $107.64 target price on the stock. in a research note on Wednesday, August 2nd. Barclays PLC restated an “equal weight” rating and issued a $90.00 target price (up from $70.00) on shares of Shopify in a research note on Wednesday, August 2nd. Robert W. Baird upped their target price on shares of Shopify from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Finally, KeyCorp restated an “overweight” rating on shares of Shopify in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price 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.