Henry James International Management Inc. Decreases Position in Shopify Inc (NYSE:SHOP)

Henry James International Management Inc. lowered its stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 0.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 25,181 shares of the software maker’s stock after selling 63 shares during the quarter. Shopify comprises about 3.3% of Henry James International Management Inc.’s holdings, making the stock its 5th biggest position. Henry James International Management Inc.’s holdings in Shopify were worth $7,848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. raised its stake in shares of Shopify by 8.4% in the second quarter. Baillie Gifford & Co. now owns 6,418,913 shares of the software maker’s stock worth $1,926,637,000 after buying an additional 498,874 shares during the period. Thoroughbred Financial Services LLC raised its stake in shares of Shopify by 29,316.3% in the second 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 period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Shopify by 5.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 619,775 shares of the software maker’s stock worth $186,670,000 after buying an additional 29,283 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Shopify by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 601,609 shares of the software maker’s stock worth $180,574,000 after buying an additional 19,842 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Shopify by 76.2% in the first 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 period. 59.68% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the company. National Bank Financial set a $400.00 target price on Shopify and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Roth Capital set a $325.00 target price on Shopify and gave the stock a “hold” rating in a research report on Tuesday, September 10th. UBS Group increased their target price on Shopify from $295.00 to $395.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Canaccord Genuity increased 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. Finally, William Blair reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $335.88.

NYSE SHOP traded up $3.08 during trading on Friday, hitting $328.65. 137,515 shares of the stock traded hands, compared to its average volume of 3,113,909. The company has a market capitalization of $35.25 billion, a P/E ratio of -538.54 and a beta of 1.19. The firm has a 50-day simple moving average of $351.88 and a 200-day simple moving average of $294.27. The company has a quick ratio of 11.44, a current ratio of 11.44 and a debt-to-equity ratio of 0.05. Shopify Inc has a 12-month low of $117.64 and a 12-month high of $409.61.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Thursday, August 1st. The software maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.45. The business had revenue of $361.98 million during 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. As a group, research analysts predict that Shopify Inc will post -0.82 EPS for the current fiscal year.

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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