Newbridge Financial Services Group Inc. Purchases 21,571 Shares of Shopify Inc. (NYSE:SHOP)

Newbridge Financial Services Group Inc. grew its position in Shopify Inc. (NYSE:SHOPGet Rating) (TSE:SHOP) by 1,226.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,330 shares of the software maker’s stock after purchasing an additional 21,571 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Shopify were worth $729,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Loomis Sayles & Co. L P increased its position in Shopify by 86,911.9% during the first quarter. Loomis Sayles & Co. L P now owns 1,238,179 shares of the software maker’s stock worth $836,959,000 after acquiring an additional 1,236,756 shares during the period. Norges Bank bought a new position in Shopify during the fourth quarter worth $1,578,341,000. Capital Research Global Investors increased its position in Shopify by 43.0% during the first quarter. Capital Research Global Investors now owns 3,012,007 shares of the software maker’s stock worth $2,036,179,000 after acquiring an additional 906,250 shares during the period. Sands Capital Management LLC increased its position in Shopify by 51.7% during the first quarter. Sands Capital Management LLC now owns 2,127,581 shares of the software maker’s stock worth $1,438,160,000 after acquiring an additional 724,767 shares during the period. Finally, Jarislowsky Fraser Ltd increased its position in Shopify by 101.5% during the first quarter. Jarislowsky Fraser Ltd now owns 1,146,154 shares of the software maker’s stock worth $775,818,000 after acquiring an additional 577,264 shares during the period. Institutional investors own 54.64% of the company’s stock.

Shopify Trading Down 1.1 %

NYSE:SHOP traded down $0.31 on Friday, hitting $28.26. 907,767 shares of the stock were exchanged, compared to its average volume of 26,318,596. The stock has a market capitalization of $35.58 billion, a price-to-earnings ratio of -18.36 and a beta of 1.82. Shopify Inc. has a 52 week low of $28.32 and a 52 week high of $176.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 11.17 and a current ratio of 11.17. The company’s 50-day moving average price is $34.85 and its 200 day moving average price is $44.47.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, July 27th. The software maker reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.04). The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.33 billion. Shopify had a negative return on equity of 1.61% and a negative net margin of 38.01%. On average, equities research analysts forecast that Shopify Inc. will post -0.45 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SHOP shares. JMP Securities started coverage on shares of Shopify in a research report on Tuesday, July 5th. They set a “market perform” rating on the stock. StockNews.com upgraded shares of Shopify to a “sell” rating in a research note on Thursday, June 30th. KeyCorp decreased their price target on shares of Shopify from $65.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, July 7th. Atlantic Securities upgraded shares of Shopify from a “neutral” rating to an “overweight” rating and set a $46.00 price target on the stock in a research note on Thursday, August 11th. Finally, Oppenheimer reiterated an “outperform” rating and set a $45.00 price target (down previously from $50.00) on shares of Shopify in a research note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $72.18.

Shopify Company Profile

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Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, 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.

Further Reading

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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