Shopify Inc (NYSE:SHOP) Shares Bought by Stephens Investment Management Group LLC

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Stephens Investment Management Group LLC raised its holdings in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 0.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 169,983 shares of the software maker’s stock after acquiring an additional 1,438 shares during the period. Stephens Investment Management Group LLC’s holdings in Shopify were worth $51,020,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Baillie Gifford & Co. increased its holdings in shares of Shopify by 56.3% during the 1st quarter. Baillie Gifford & Co. now owns 5,920,039 shares of the software maker’s stock worth $1,223,199,000 after buying an additional 2,132,030 shares during the last quarter. Thoroughbred Financial Services LLC increased its holdings in shares of Shopify by 29,316.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,533,766 shares of the software maker’s stock worth $153,377,000 after buying an additional 1,528,552 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Shopify by 7.0% during the 1st quarter. Jennison Associates LLC now owns 1,403,846 shares of the software maker’s stock worth $290,063,000 after buying an additional 91,669 shares during the last quarter. CIBC World Markets Inc. increased its holdings in shares of Shopify by 378.5% during the 1st quarter. CIBC World Markets Inc. now owns 865,184 shares of the software maker’s stock worth $178,764,000 after buying an additional 684,365 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Shopify by 76.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 507,158 shares of the software maker’s stock worth $104,789,000 after buying an additional 219,284 shares during the last quarter. Institutional investors own 65.72% of the company’s stock.

NYSE:SHOP traded up $2.22 on Thursday, reaching $355.02. The stock had a trading volume of 41,835 shares, compared to its average volume of 2,034,643. The company has a current ratio of 11.44, a quick ratio of 11.44 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average price is $326.99. The company has a market cap of $40.91 billion, a PE ratio of -579.99 and a beta of 1.30. Shopify Inc has a 12-month low of $117.64 and a 12-month high of $372.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.45. The company had revenue of $361.98 million during the quarter, compared to analysts’ expectations of $350.59 million. Shopify had a negative net margin of 5.98% and a negative return on equity of 3.85%. The firm’s revenue for the quarter was up 47.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 EPS. As a group, equities analysts predict that Shopify Inc will post -0.79 EPS for the current fiscal year.

A number of analysts have recently commented on SHOP shares. Wells Fargo & Co upped their price objective on Shopify from $195.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. William Blair restated a “market perform” rating on shares of Shopify in a report on Thursday, August 1st. UBS Group increased their price target on Shopify from $295.00 to $395.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Mackie increased their price target on Shopify from $280.00 to $360.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $410.00 price target on shares of Shopify in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $327.00.

Shopify Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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