Weaver Capital Management LLC Has $4.02 Million Stake in Shopify Inc. (NYSE:SHOP)

Weaver Capital Management LLC lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 63.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,186 shares of the software maker’s stock after buying an additional 19,409 shares during the quarter. Shopify comprises about 1.2% of Weaver Capital Management LLC’s holdings, making the stock its 13th largest position. Weaver Capital Management LLC’s holdings in Shopify were worth $4,022,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norden Group LLC acquired a new stake in shares of Shopify in the 1st quarter worth about $3,618,000. Silvercrest Asset Management Group LLC grew its holdings in Shopify by 735.0% during the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after buying an additional 46,589 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Shopify by 5.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock valued at $40,838,000 after acquiring an additional 28,639 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Shopify by 54.2% during the 2nd quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after acquiring an additional 1,657,251 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Shopify by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after acquiring an additional 713,064 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SHOP. Evercore ISI increased their price objective on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Roth Mkm upped their price target on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Bank of America raised Shopify from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $78.00 to $82.00 in a report on Tuesday, July 16th. Morgan Stanley upped their price objective on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Argus raised shares of Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.36.

Shopify Trading Down 1.3 %

Shares of SHOP stock opened at $81.57 on Wednesday. The stock has a market capitalization of $105.12 billion, a P/E ratio of 83.23, a P/E/G ratio of 2.77 and a beta of 2.36. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $76.78 and its 200 day moving average is $68.92. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. Shopify’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Research analysts expect that Shopify Inc. will post 0.76 earnings per share for the current year.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.