Shopify Inc. (SHOP) Shares Sold by Balyasny Asset Management LLC

Balyasny Asset Management LLC lowered its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) by 94.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,900 shares of the software maker’s stock after selling 136,717 shares during the quarter. Balyasny Asset Management LLC’s holdings in Shopify were worth $687,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. QS Investors LLC acquired a new position in shares of Shopify during the 2nd quarter valued at about $217,000. Hillsdale Investment Management Inc. acquired a new stake in Shopify during the 2nd quarter worth approximately $781,000. Ontario Teachers Pension Plan Board increased its position in Shopify by 2.6% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 128,249 shares of the software maker’s stock worth $11,120,000 after purchasing an additional 3,249 shares in the last quarter. Advisor Group Inc. increased its position in Shopify by 153.8% during the 2nd quarter. Advisor Group Inc. now owns 9,102 shares of the software maker’s stock worth $792,000 after purchasing an additional 5,516 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC increased its position in Shopify by 36.1% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 837,955 shares of the software maker’s stock worth $72,818,000 after purchasing an additional 222,240 shares in the last quarter. 53.77% of the stock is owned by institutional investors.

Shares of Shopify Inc. (NYSE:SHOP) opened at 96.21 on Wednesday. Shopify Inc. has a 12 month low of $37.74 and a 12 month high of $123.94. The firm’s market capitalization is $9.48 billion. The firm has a 50-day moving average price of $111.70 and a 200 day moving average price of $111.70.

Shopify (NYSE:SHOP) (TSE:SH) last announced its quarterly earnings results on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. The business had revenue of $151.70 million for the quarter, compared to analyst estimates of $143.94 million. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. Shopify’s quarterly revenue was up 75.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) EPS. On average, analysts anticipate that Shopify Inc. will post ($0.04) EPS for the current fiscal year.

SHOP has been the subject of a number of research analyst reports. Vetr downgraded shares of Shopify from a “strong-buy” rating to a “buy” rating and set a $101.99 target price for the company. in a research report on Thursday, June 22nd. Piper Jaffray Companies reissued a “buy” rating and set a $110.00 target price on shares of Shopify in a research report on Friday, October 6th. BidaskClub downgraded shares of Shopify from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Macquarie increased their target price on shares of Shopify from $121.00 to $146.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 20th. Finally, Robert W. Baird reissued an “outperform” rating on shares of Shopify in a research report on Monday, July 3rd. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twenty have issued a buy rating to the stock. Shopify currently has a consensus rating of “Buy” and an average target price of $97.09.

ILLEGAL ACTIVITY WARNING: “Shopify Inc. (SHOP) Shares Sold by Balyasny Asset Management LLC” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on anothe

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. QS Investors LLC acquired a new position in shares of Shopify during the 2nd quarter valued at about $217,000. Hillsdale Investment Management Inc. acquired a new stake in Shopify during the 2nd quarter worth approximately $781,000. Ontario Teachers Pension Plan Board increased its position in Shopify by 2.6% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 128,249 shares of the software maker’s stock worth $11,120,000 after purchasing an additional 3,249 shares in the last quarter. Advisor Group Inc. increased its position in Shopify by 153.8% during the 2nd quarter. Advisor Group Inc. now owns 9,102 shares of the software maker’s stock worth $792,000 after purchasing an additional 5,516 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC increased its position in Shopify by 36.1% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 837,955 shares of the software maker’s stock worth $72,818,000 after purchasing an additional 222,240 shares in the last quarter. 53.77% of the stock is owned by institutional investors.

Shares of Shopify Inc. (NYSE:SHOP) opened at 96.21 on Wednesday. Shopify Inc. has a 12 month low of $37.74 and a 12 month high of $123.94. The firm’s market capitalization is $9.48 billion. The firm has a 50-day moving average price of $111.70 and a 200 day moving average price of $111.70.

Shopify (NYSE:SHOP) (TSE:SH) last announced its quarterly earnings results on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. The business had revenue of $151.70 million for the quarter, compared to analyst estimates of $143.94 million. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. Shopify’s quarterly revenue was up 75.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) EPS. On average, analysts anticipate that Shopify Inc. will post ($0.04) EPS for the current fiscal year.

SHOP has been the subject of a number of research analyst reports. Vetr downgraded shares of Shopify from a “strong-buy” rating to a “buy” rating and set a $101.99 target price for the company. in a research report on Thursday, June 22nd. Piper Jaffray Companies reissued a “buy” rating and set a $110.00 target price on shares of Shopify in a research report on Friday, October 6th. BidaskClub downgraded shares of Shopify from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Macquarie increased their target price on shares of Shopify from $121.00 to $146.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 20th. Finally, Robert W. Baird reissued an “outperform” rating on shares of Shopify in a research report on Monday, July 3rd. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twenty have issued a buy rating to the stock. Shopify currently has a consensus rating of “Buy” and an average target price of $97.09.

ILLEGAL ACTIVITY WARNING: “Shopify Inc. (SHOP) Shares Sold by Balyasny Asset Management LLC” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://ledgergazette.com/2017/10/18/shopify-inc-shop-shares-sold-by-balyasny-asset-management-llc.html.

About Shopify

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.

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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