Stephens Investment Management Group LLC Increases Holdings in Shopify Inc (NYSE:SHOP)

Stephens Investment Management Group LLC grew its holdings in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 0.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,983 shares of the software maker’s stock after buying an additional 1,438 shares during the period. Stephens Investment Management Group LLC owned 0.15% of Shopify worth $51,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Henry James International Management Inc. lifted its holdings in Shopify by 140.7% during the 1st quarter. Henry James International Management Inc. now owns 33,947 shares of the software maker’s stock worth $7,014,000 after buying an additional 19,846 shares during the last quarter. Weaver Consulting Group acquired a new stake in shares of Shopify during the first quarter worth about $54,000. Bollard Group LLC increased its position in shares of Shopify by 28.5% during the first quarter. Bollard Group LLC now owns 26,150 shares of the software maker’s stock worth $5,403,000 after purchasing an additional 5,800 shares in the last quarter. B. Riley Wealth Management Inc. increased its position in shares of Shopify by 21.4% during the first quarter. B. Riley Wealth Management Inc. now owns 3,897 shares of the software maker’s stock worth $805,000 after purchasing an additional 688 shares in the last quarter. Finally, BKS Advisors LLC acquired a new stake in shares of Shopify during the first quarter worth about $289,000. 65.72% of the stock is owned by institutional investors.

A number of analysts have recently commented on SHOP shares. Rosenblatt Securities reiterated a “buy” rating and set a $410.00 target price on shares of Shopify in a research report on Friday, August 2nd. Roth Capital set a $300.00 target price on Shopify and gave the stock a “hold” rating in a research report on Sunday, July 21st. CSFB lifted their target price on Shopify from $275.00 to $370.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. William Blair reiterated a “market perform” rating on shares of Shopify in a research report on Thursday, August 1st. Finally, Canaccord Genuity lifted their target price on Shopify from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $327.00.



SHOP stock traded up $2.22 during trading on Thursday, hitting $355.02. The company had a trading volume of 41,835 shares, compared to its average volume of 2,034,643. The stock has a market cap of $40.91 billion, a price-to-earnings ratio of -579.99 and a beta of 1.30. Shopify Inc has a 1-year low of $117.64 and a 1-year high of $372.36. The company has a 50-day simple moving average of $326.99. The company has a debt-to-equity ratio of 0.05, a quick ratio of 11.44 and a current ratio of 11.44.

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

Shopify Company 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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