Tudor Investment Corp Et Al Purchases 1,677 Shares of Shopify Inc. (NYSE:SHOP)

Tudor Investment Corp Et Al grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 84.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,662 shares of the software maker’s stock after acquiring an additional 1,677 shares during the quarter. Tudor Investment Corp Et Al’s holdings in Shopify were worth $4,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Zweig DiMenna Associates LLC increased its position in shares of Shopify by 101.2% in the first quarter. Zweig DiMenna Associates LLC now owns 17,100 shares of the software maker’s stock valued at $18,921,000 after acquiring an additional 8,600 shares during the last quarter. Northern Trust Corp raised its stake in shares of Shopify by 5.2% during the 1st quarter. Northern Trust Corp now owns 203,245 shares of the software maker’s stock worth $224,890,000 after purchasing an additional 10,023 shares in the last quarter. D.A. Davidson & CO. raised its position in Shopify by 45.2% during the first quarter. D.A. Davidson & CO. now owns 5,080 shares of the software maker’s stock worth $5,621,000 after acquiring an additional 1,581 shares in the last quarter. M Holdings Securities Inc. bought a new stake in shares of Shopify in the 1st quarter valued at about $5,562,000. Finally, Valeo Financial Advisors LLC lifted its stake in Shopify by 17.7% in the 1st quarter. Valeo Financial Advisors LLC now owns 365 shares of the software maker’s stock valued at $404,000 after purchasing an additional 55 shares during the last quarter. 58.99% of the stock is owned by institutional investors.

NYSE SHOP opened at $1,569.36 on Thursday. The firm has a market capitalization of $195.12 billion, a PE ratio of 122.99, a P/E/G ratio of 39.97 and a beta of 1.45. The business’s 50 day simple moving average is $1,351.98. The company has a quick ratio of 17.13, a current ratio of 17.13 and a debt-to-equity ratio of 0.10. Shopify Inc. has a one year low of $839.40 and a one year high of $1,587.74.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, April 28th. The software maker reported $2.01 earnings per share for the quarter, beating the consensus estimate of $0.74 by $1.27. Shopify had a net margin of 46.67% and a return on equity of 6.52%. The company had revenue of $988.70 million during the quarter, compared to analyst estimates of $851.43 million. During the same quarter in the previous year, the business posted $0.19 EPS. Shopify’s revenue for the quarter was up 110.4% compared to the same quarter last year. As a group, sell-side analysts predict that Shopify Inc. will post 1.53 earnings per share for the current year.

Several equities analysts have commented on SHOP shares. Morgan Stanley upped their price objective on shares of Shopify from $1,300.00 to $1,400.00 and gave the company an “equal weight” rating in a report on Thursday, April 29th. Evercore ISI began coverage on Shopify in a research note on Tuesday, April 13th. They set an “in-line” rating and a $1,360.00 target price on the stock. Zacks Investment Research upgraded Shopify from a “hold” rating to a “strong-buy” rating and set a $1,514.00 price target for the company in a research note on Friday, July 16th. Robert W. Baird lowered their price objective on Shopify from $1,600.00 to $1,550.00 in a research report on Friday, April 23rd. Finally, Guggenheim set a $1,442.63 target price on shares of Shopify and gave the company a “hold” rating in a research report on Sunday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Shopify presently has an average rating of “Buy” and a consensus target price of $1,468.79.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, the United Kingdom, Australia, Latin America, and internationally. The company's platform provides merchants to run their business in 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, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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