Shopify Inc. (NYSE:SHOP) Shares Sold by Darwin Advisors LLC

Darwin Advisors LLC decreased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 28.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,763 shares of the software maker’s stock after selling 1,078 shares during the quarter. Darwin Advisors LLC’s holdings in Shopify were worth $2,826,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SHOP. First Trust Advisors LP raised its holdings in Shopify by 15.6% in the 1st quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock valued at $723,000 after buying an additional 472 shares during the period. Alliancebernstein L.P. raised its holdings in Shopify by 44.1% in the 1st quarter. Alliancebernstein L.P. now owns 25,189 shares of the software maker’s stock valued at $10,502,000 after buying an additional 7,704 shares during the period. Geode Capital Management LLC raised its holdings in Shopify by 13.3% in the 1st quarter. Geode Capital Management LLC now owns 158,227 shares of the software maker’s stock valued at $65,864,000 after buying an additional 18,579 shares during the period. Thrivent Financial for Lutherans purchased a new stake in Shopify in the 1st quarter valued at about $786,000. Finally, APG Asset Management N.V. raised its holdings in Shopify by 297.2% in the 1st quarter. APG Asset Management N.V. now owns 92,186 shares of the software maker’s stock valued at $38,188,000 after buying an additional 68,978 shares during the period. 59.45% of the stock is currently owned by hedge funds and other institutional investors.

SHOP stock opened at $1,067.21 on Friday. The company has a market capitalization of $128.72 billion, a P/E ratio of -1,749.50, a PEG ratio of 177.57 and a beta of 1.37. Shopify Inc. has a twelve month low of $282.08 and a twelve month high of $1,146.91. The business has a 50 day simple moving average of $997.43 and a 200-day simple moving average of $853.61.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $1.04. Shopify had a positive return on equity of 0.32% and a negative net margin of 3.25%. The business had revenue of $714.34 million during the quarter, compared to the consensus estimate of $511.56 million. During the same period in the prior year, the company earned $0.10 earnings per share. The company’s revenue was up 97.3% compared to the same quarter last year. On average, equities research analysts expect that Shopify Inc. will post 0.16 EPS for the current fiscal year.

Several brokerages recently issued reports on SHOP. Zacks Investment Research lowered shares of Shopify from a “buy” rating to a “hold” rating and set a $1,040.00 price objective on the stock. in a report on Tuesday, September 29th. Argus began coverage on shares of Shopify in a research note on Wednesday, July 1st. They set a “buy” rating and a $1,050.00 price target on the stock. ValuEngine upgraded shares of Shopify from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. Mizuho reiterated a “neutral” rating and set a $1,050.00 price target on shares of Shopify in a research note on Friday, September 4th. They noted that the move was a valuation call. Finally, Credit Suisse Group boosted their price target on shares of Shopify from $700.00 to $850.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have issued a buy rating to the company. Shopify has an average rating of “Hold” and a consensus price target of $1,022.25.

About Shopify

Shopify Inc, a commerce company, provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, 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, fulfill and ship orders, build customer relationships, source products, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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