Canada Pension Plan Investment Board raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SH) by 2.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 477,948 shares of the software maker’s stock after buying an additional 11,448 shares during the quarter. Canada Pension Plan Investment Board owned about 0.48% of Shopify worth $55,650,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Shopify in the first quarter worth about $116,000. Seven Bridges Advisors LLC purchased a new position in shares of Shopify in the second quarter worth about $120,000. Advisory Services Network LLC raised its stake in shares of Shopify by 26.6% in the second quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock worth $123,000 after purchasing an additional 298 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Shopify in the second quarter worth about $135,000. Finally, Sterling Investment Advisors Ltd. raised its stake in shares of Shopify by 100.0% in the second quarter. Sterling Investment Advisors Ltd. now owns 2,000 shares of the software maker’s stock worth $174,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 55.03% of the company’s stock.
Several brokerages have recently issued reports on SHOP. KeyCorp restated an “overweight” rating on shares of Shopify in a research note on Wednesday, August 2nd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Shopify in a research note on Wednesday, August 9th. Roth Capital raised their price objective on Shopify from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Jaffray Companies restated a “buy” rating and issued a $110.00 price objective on shares of Shopify in a research note on Wednesday. Finally, Vetr cut Shopify from a “strong-buy” rating to a “buy” rating and set a $101.92 price objective for the company. in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $100.45.
Shares of Shopify Inc. (NYSE SHOP) opened at $98.71 on Friday. Shopify Inc. has a 12 month low of $37.74 and a 12 month high of $123.94. The company has a current ratio of 10.64, a quick ratio of 11.80 and a debt-to-equity ratio of 0.02.
Shopify (NYSE:SHOP) (TSE:SH) last posted its quarterly earnings data on Tuesday, August 1st. The software maker reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.05. Shopify had a negative return on equity of 6.58% and a negative net margin of 7.90%. The business had revenue of $151.70 million for the quarter, compared to analysts’ expectations of $143.94 million. During the same quarter last year, the firm earned ($0.04) earnings per share. The business’s revenue was up 75.2% on a year-over-year basis. equities analysts anticipate that Shopify Inc. will post -0.6 EPS for the current year.
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Shopify Company Profile
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
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