JPMorgan Chase & Co. lowered its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SH) by 35.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 371,521 shares of the software maker’s stock after selling 200,604 shares during the quarter. JPMorgan Chase & Co. owned 0.38% of Shopify worth $32,285,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Mn Services Vermogensbeheer B.V. purchased a new stake in Shopify in the second quarter valued at $1,120,000. Wedbush Securities Inc. purchased a new stake in Shopify in the second quarter valued at $212,000. Barton Investment Management raised its position in Shopify by 13.0% in the second quarter. Barton Investment Management now owns 259,650 shares of the software maker’s stock valued at $22,564,000 after purchasing an additional 29,830 shares during the period. Oppenheimer & Co. Inc. raised its position in Shopify by 26.8% in the second quarter. Oppenheimer & Co. Inc. now owns 39,959 shares of the software maker’s stock valued at $3,472,000 after purchasing an additional 8,437 shares during the period. Finally, Andra AP fonden purchased a new stake in Shopify in the second quarter valued at $1,734,000. Institutional investors own 53.78% of the company’s stock.
Shopify Inc. (NYSE SHOP) opened at 120.26 on Friday. The company’s 50-day moving average price is $119.63 and its 200 day moving average price is $93.00. The firm’s market capitalization is $11.85 billion. Shopify Inc. has a 1-year low of $37.74 and a 1-year high of $122.50.
Shopify (NYSE:SHOP) (TSE:SH) last released its quarterly earnings data on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.05. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. The company had revenue of $151.70 million for the quarter, compared to analyst estimates of $143.94 million. During the same period last year, the company posted ($0.04) earnings per share. The firm’s revenue was up 75.2% compared to the same quarter last year. On average, equities analysts anticipate that Shopify Inc. will post ($0.05) EPS for the current year.
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A number of research firms have commented on SHOP. Vetr downgraded Shopify from a “buy” rating to a “hold” rating and set a $120.91 target price on the stock. in a research report on Tuesday, September 12th. KeyCorp restated a “buy” rating and issued a $116.00 target price on shares of Shopify in a research report on Friday, September 8th. DA Davidson began coverage on Shopify in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $95.00 target price on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $110.00 target price on shares of Shopify in a research report on Tuesday, September 5th. Finally, BidaskClub upgraded Shopify from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $93.20.
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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