Darwin Advisors LLC reduced its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 28.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Morgan Stanley boosted its position in shares of Shopify by 21.9% in the first quarter. Morgan Stanley now owns 5,248,062 shares of the software maker’s stock worth $2,188,075,000 after purchasing an additional 942,540 shares during the period. Capital World Investors boosted its position in shares of Shopify by 69.1% in the first quarter. Capital World Investors now owns 4,875,199 shares of the software maker’s stock worth $2,032,670,000 after purchasing an additional 1,991,970 shares during the period. Jennison Associates LLC boosted its position in shares of Shopify by 11.5% in the second quarter. Jennison Associates LLC now owns 3,300,244 shares of the software maker’s stock worth $3,132,592,000 after purchasing an additional 341,548 shares during the period. Vanguard Group Inc. boosted its position in shares of Shopify by 2.6% in the second quarter. Vanguard Group Inc. now owns 3,082,643 shares of the software maker’s stock worth $2,926,045,000 after purchasing an additional 78,602 shares during the period. Finally, Bank of Nova Scotia boosted its position in shares of Shopify by 3.0% during the second quarter. Bank of Nova Scotia now owns 831,584 shares of the software maker’s stock worth $789,330,000 after acquiring an additional 24,291 shares during the last quarter. Institutional investors and hedge funds own 59.45% of the company’s stock.
Shares of Shopify stock opened at $1,067.21 on Friday. Shopify Inc. has a 1 year low of $282.08 and a 1 year high of $1,146.91. The firm’s 50-day moving average is $997.43 and its two-hundred day moving average is $853.61. The stock has a market cap of $128.72 billion, a price-to-earnings ratio of -1,749.50, a PEG ratio of 177.57 and a beta of 1.37.
Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, July 29th. The software maker reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $1.04. Shopify had a negative net margin of 3.25% and a positive return on equity of 0.32%. The company had revenue of $714.34 million for the quarter, compared to analysts’ expectations of $511.56 million. During the same period in the prior year, the business earned $0.10 EPS. The firm’s quarterly revenue was up 97.3% on a year-over-year basis. Research analysts predict that Shopify Inc. will post 0.16 earnings per share for the current year.
SHOP has been the subject of a number of research reports. Rosenblatt Securities restated a “buy” rating and set a $1,400.00 target price (up previously from $860.00) on shares of Shopify in a research report on Thursday, July 30th. SunTrust Banks upped their target price on shares of Shopify from $700.00 to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Jefferies Financial Group restated a “hold” rating and set a $725.00 target price on shares of Shopify in a research report on Tuesday, July 28th. Wells Fargo & Company upped their target price on shares of Shopify from $700.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Finally, Morgan Stanley started coverage on shares of Shopify in a research report on Monday, October 5th. They set an “equal weight” rating and a $970.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $1,022.25.
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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