D.A. Davidson & CO. Purchases 81,933 Shares of Shopify Inc. $SHOP

D.A. Davidson & CO. grew its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 103.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,212 shares of the software maker’s stock after acquiring an additional 81,933 shares during the period. D.A. Davidson & CO.’s holdings in Shopify were worth $18,596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Family Legacy Financial Solutions LLC bought a new position in shares of Shopify in the 2nd quarter valued at about $25,000. Tradewinds Capital Management LLC grew its position in shares of Shopify by 71.4% in the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after acquiring an additional 100 shares during the period. Coastline Trust Co bought a new position in shares of Shopify in the 2nd quarter valued at about $29,000. Global Wealth Strategies & Associates grew its position in shares of Shopify by 182.8% in the 2nd quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock valued at $30,000 after acquiring an additional 170 shares during the period. Finally, Smithfield Trust Co grew its position in shares of Shopify by 149.2% in the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock valued at $30,000 after acquiring an additional 188 shares during the period. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays lifted their price objective on shares of Shopify from $94.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. JMP Securities lifted their target price on shares of Shopify from $135.00 to $185.00 and gave the stock a “market outperform” rating in a report on Thursday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $149.00 target price on shares of Shopify in a report on Tuesday, September 30th. Mizuho lifted their target price on shares of Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, Canaccord Genuity Group lifted their target price on shares of Shopify from $115.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $152.76.

Shopify Stock Down 0.4%

Shares of Shopify stock opened at $162.01 on Thursday. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $169.69. The company has a 50-day simple moving average of $148.84 and a two-hundred day simple moving average of $122.57. The stock has a market capitalization of $210.56 billion, a price-to-earnings ratio of 90.51, a price-to-earnings-growth ratio of 7.61 and a beta of 2.72.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the company earned $0.26 EPS. The business’s revenue was up 31.1% on a year-over-year basis. On average, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal 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.