Scotia Capital Inc. cut its holdings in shares of Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) by 37.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,590 shares of the software maker’s stock after selling 22,132 shares during the period. Scotia Capital Inc.’s holdings in Shopify Inc (US) were worth $3,798,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Shopify Inc (US) by 290.2% during the second quarter. Vanguard Group Inc. now owns 141,134 shares of the software maker’s stock worth $12,264,000 after purchasing an additional 104,961 shares in the last quarter. Ark Investment Management LLC bought a new stake in Shopify Inc (US) during the second quarter worth approximately $242,000. First Trust Advisors LP bought a new stake in Shopify Inc (US) during the third quarter worth approximately $325,000. Korea Investment CORP raised its holdings in Shopify Inc (US) by 31.5% during the third quarter. Korea Investment CORP now owns 5,521 shares of the software maker’s stock worth $641,000 after purchasing an additional 1,321 shares in the last quarter. Finally, Andra AP fonden raised its holdings in Shopify Inc (US) by 7.1% during the third quarter. Andra AP fonden now owns 16,500 shares of the software maker’s stock worth $2,394,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 56.08% of the company’s stock.
Shares of Shopify Inc (NYSE:SHOP) traded up $0.93 during trading hours on Wednesday, reaching $146.25. 971,475 shares of the company’s stock traded hands, compared to its average volume of 2,120,000. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.83 and a current ratio of 10.82. Shopify Inc has a 52 week low of $63.08 and a 52 week high of $150.47. The firm has a market cap of $14,520.00 and a P/E ratio of -348.21.
Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Thursday, February 15th. The software maker reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.09. Shopify Inc (US) had a negative net margin of 1.34% and a negative return on equity of 1.20%. The company had revenue of $222.80 million for the quarter, compared to the consensus estimate of $209.70 million. Shopify Inc (US)’s revenue for the quarter was up 70.9% on a year-over-year basis. analysts expect that Shopify Inc will post -0.8 EPS for the current year.
SHOP has been the topic of several recent analyst reports. Vetr cut Shopify Inc (US) from a “buy” rating to a “hold” rating and set a $130.32 target price on the stock. in a report on Monday, January 29th. Zacks Investment Research cut Shopify Inc (US) from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. Morgan Stanley boosted their target price on Shopify Inc (US) from $116.00 to $120.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. National Bank Financial boosted their target price on Shopify Inc (US) from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Finally, DA Davidson boosted their target price on Shopify Inc (US) to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Shopify Inc (US) presently has an average rating of “Buy” and a consensus target price of $120.07.
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About Shopify Inc (US)
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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