Tocqueville Asset Management L.P. increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SH) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,200 shares of the software maker’s stock after buying an additional 400 shares during the period. Tocqueville Asset Management L.P.’s holdings in Shopify were worth $1,668,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of SHOP. FMR LLC boosted its stake in shares of Shopify by 1.5% in the first quarter. FMR LLC now owns 11,571,684 shares of the software maker’s stock worth $787,916,000 after buying an additional 171,294 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Shopify by 4.7% in the first quarter. Renaissance Technologies LLC now owns 1,347,000 shares of the software maker’s stock worth $91,732,000 after buying an additional 61,000 shares during the period. Scge Management L.P. boosted its stake in shares of Shopify by 16.7% in the first quarter. Scge Management L.P. now owns 1,015,000 shares of the software maker’s stock worth $69,111,000 after buying an additional 145,000 shares during the period. Morgan Stanley boosted its stake in shares of Shopify by 117.8% in the first quarter. Morgan Stanley now owns 643,902 shares of the software maker’s stock worth $43,843,000 after buying an additional 348,254 shares during the period. Finally, TD Asset Management Inc. boosted its stake in shares of Shopify by 96.7% in the second quarter. TD Asset Management Inc. now owns 607,330 shares of the software maker’s stock worth $52,657,000 after buying an additional 298,510 shares during the period. Hedge funds and other institutional investors own 57.07% of the company’s stock.
Shares of Shopify Inc. (SHOP) opened at 103.74 on Friday. Shopify Inc. has a 12-month low of $37.74 and a 12-month high of $107.00. The firm’s market capitalization is $10.22 billion. The company’s 50-day moving average price is $94.60 and its 200 day moving average price is $81.29.
Shopify (NYSE:SHOP) (TSE:SH) last released its quarterly earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. The company had revenue of $151.70 million for the quarter, compared to analysts’ expectations of $143.94 million. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. The business’s revenue for the quarter was up 75.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) earnings per share. On average, equities research analysts forecast that Shopify Inc. will post ($0.05) EPS for the current fiscal year.
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SHOP has been the subject of a number of analyst reports. Vetr cut Shopify from a “strong-buy” rating to a “buy” rating and set a $101.99 price objective for the company. in a research note on Thursday, June 22nd. Roth Capital reiterated a “buy” rating and issued a $92.00 price target (up from $82.00) on shares of Shopify in a research note on Friday, May 5th. Barclays PLC increased their price target on Shopify from $64.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 3rd. BidaskClub cut Shopify from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Robert W. Baird reiterated an “outperform” rating on shares of Shopify in a research note on Monday, July 3rd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $90.93.
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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