ETRADE Capital Management LLC Boosts Stock Position in Shopify Inc (NYSE:SHOP)

ETRADE Capital Management LLC lifted its position in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 13.6% in the first quarter, HoldingsChannel.com reports. The firm owned 2,250 shares of the software maker’s stock after purchasing an additional 270 shares during the period. ETRADE Capital Management LLC’s holdings in Shopify were worth $938,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of SHOP. First Trust Advisors LP lifted its holdings in Shopify by 15.6% in the first quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock worth $723,000 after buying an additional 472 shares during the period. Capital Investment Advisors LLC purchased a new stake in Shopify in the fourth quarter worth about $343,000. Janney Montgomery Scott LLC lifted its holdings in Shopify by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,072 shares of the software maker’s stock worth $2,812,000 after buying an additional 705 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Shopify by 5.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,686 shares of the software maker’s stock worth $8,622,000 after buying an additional 1,082 shares during the period. Finally, NEXT Financial Group Inc lifted its holdings in Shopify by 18.4% in the fourth quarter. NEXT Financial Group Inc now owns 477 shares of the software maker’s stock worth $190,000 after buying an additional 74 shares during the period. Institutional investors own 57.84% of the company’s stock.

Shares of SHOP opened at $825.17 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 9.45 and a quick ratio of 9.45. The firm has a 50 day moving average of $595.63 and a 200 day moving average of $456.64. Shopify Inc has a twelve month low of $262.17 and a twelve month high of $826.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, May 6th. The software maker reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.89. Shopify had a negative net margin of 7.65% and a negative return on equity of 2.56%. The business had revenue of $470.00 million during the quarter, compared to the consensus estimate of $442.92 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The firm’s revenue was up 46.6% on a year-over-year basis. On average, equities research analysts predict that Shopify Inc will post -2.26 EPS for the current fiscal year.

SHOP has been the subject of several research analyst reports. Raymond James lowered shares of Shopify from an “outperform” rating to a “market perform” rating in a report on Friday, April 17th. They noted that the move was a valuation call. Wells Fargo & Co lowered shares of Shopify from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $500.00 to $700.00 in a report on Thursday, May 7th. CIBC reiterated a “hold” rating and set a $600.00 target price on shares of Shopify in a report on Thursday, February 13th. Rosenblatt Securities lifted their target price on shares of Shopify from $630.00 to $860.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, ValuEngine lowered shares of Shopify from a “buy” rating to a “hold” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a sell rating, twenty have issued a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $620.22.

About Shopify

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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