Guardian Asset Advisors LLC Grows Holdings in Shopify Inc. $SHOP

Guardian Asset Advisors LLC boosted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,097 shares of the software maker’s stock after purchasing an additional 160 shares during the quarter. Guardian Asset Advisors LLC’s holdings in Shopify were worth $1,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Nuveen LLC purchased a new stake in Shopify in the 1st quarter valued at $667,392,000. Jennison Associates LLC raised its position in Shopify by 324.3% in the 1st quarter. Jennison Associates LLC now owns 5,280,781 shares of the software maker’s stock valued at $504,209,000 after purchasing an additional 4,036,326 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Shopify by 34.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock valued at $565,504,000 after purchasing an additional 1,522,573 shares during the last quarter. Mackenzie Financial Corp raised its position in Shopify by 19.7% during the 1st quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock worth $822,745,000 after buying an additional 1,426,406 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Shopify by 24.6% during the 1st quarter. Alliancebernstein L.P. now owns 5,554,420 shares of the software maker’s stock worth $530,336,000 after buying an additional 1,094,840 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SHOP shares. Loop Capital downgraded shares of Shopify from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Tuesday, July 22nd. Benchmark restated a “buy” rating and set a $140.00 price objective (up previously from $125.00) on shares of Shopify in a research report on Tuesday, August 5th. Barclays upped their price objective on shares of Shopify from $94.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Phillip Securities downgraded shares of Shopify from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 12th. Finally, ATB Capital downgraded shares of Shopify to a “sector perform” rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twenty-two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $153.30.

Shopify Stock Up 3.1%

NASDAQ:SHOP opened at $167.03 on Friday. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $169.69. The stock has a market cap of $217.08 billion, a PE ratio of 93.31, a price-to-earnings-growth ratio of 7.58 and a beta of 2.72. The firm’s fifty day simple moving average is $149.30 and its 200-day simple moving average is $123.18.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the company posted $0.26 EPS. The business’s revenue for the quarter was up 31.1% on a year-over-year basis. Equities analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Shopify Profile

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.