Atria Investments Inc Raises Stake in Shopify Inc. $SHOP

Atria Investments Inc increased its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 190,823 shares of the software maker’s stock after buying an additional 13,303 shares during the period. Atria Investments Inc’s holdings in Shopify were worth $22,011,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in Shopify by 1.9% in the first quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker’s stock worth $4,563,106,000 after acquiring an additional 882,168 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Shopify by 118.1% in the 2nd quarter. Jennison Associates LLC now owns 11,519,610 shares of the software maker’s stock worth $1,328,787,000 after purchasing an additional 6,238,829 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Shopify by 19.7% in the 1st quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock worth $822,745,000 after purchasing an additional 1,426,406 shares in the last quarter. Nuveen LLC bought a new position in shares of Shopify during the 1st quarter valued at about $667,392,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Shopify by 34.4% during 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 buying an additional 1,522,573 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Trading Up 0.0%

SHOP stock opened at $179.01 on Thursday. The stock has a market capitalization of $232.65 billion, a price-to-earnings ratio of 100.01, a PEG ratio of 8.38 and a beta of 2.72. The firm’s 50-day moving average price is $152.20 and its two-hundred day moving average price is $126.31. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19.

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

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of recent research reports. Mizuho increased their price target on shares of Shopify from $85.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Canaccord Genuity Group increased their target price on shares of Shopify from $115.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Phillip Securities downgraded shares of Shopify from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. raised their price objective on Shopify from $115.00 to $179.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Finally, Benchmark reiterated a “buy” rating and issued a $140.00 price objective (up previously from $125.00) on shares of Shopify in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $154.68.

Shopify Company 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.