BKS Advisors LLC Takes $289,000 Position in Shopify Inc (SHOP)

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BKS Advisors LLC purchased a new position in Shopify Inc (NYSE:SHOP) (TSE:SHOP) during the 1st quarter, HoldingsChannel reports. The fund purchased 1,400 shares of the software maker’s stock, valued at approximately $289,000.

Several other institutional investors have also recently added to or reduced their stakes in SHOP. Norges Bank bought a new position in Shopify in the fourth quarter valued at $101,062,000. Baillie Gifford & Co. increased its stake in Shopify by 21.7% in the fourth quarter. Baillie Gifford & Co. now owns 3,788,009 shares of the software maker’s stock valued at $524,449,000 after acquiring an additional 674,648 shares during the last quarter. WCM Investment Management LLC increased its stake in Shopify by 5.7% in the fourth quarter. WCM Investment Management LLC now owns 6,599,190 shares of the software maker’s stock valued at $913,657,000 after acquiring an additional 357,313 shares during the last quarter. Toronto Dominion Bank increased its stake in Shopify by 492.2% in the fourth quarter. Toronto Dominion Bank now owns 392,788 shares of the software maker’s stock valued at $54,381,000 after acquiring an additional 326,462 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Shopify by 246.7% in the third quarter. Legal & General Group Plc now owns 282,280 shares of the software maker’s stock valued at $46,414,000 after acquiring an additional 200,868 shares during the last quarter. 64.95% of the stock is currently owned by hedge funds and other institutional investors.

NYSE SHOP opened at $215.40 on Wednesday. The company has a quick ratio of 15.35, a current ratio of 15.35 and a debt-to-equity ratio of 0.01. Shopify Inc has a 12-month low of $117.64 and a 12-month high of $221.82. The stock has a market cap of $24.07 billion, a price-to-earnings ratio of -353.11 and a beta of 1.53.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 12th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.32. Shopify had a negative net margin of 6.01% and a negative return on equity of 3.52%. The business had revenue of $344.00 million during the quarter, compared to analyst estimates of $327.45 million. During the same period in the prior year, the business posted $0.15 earnings per share. The company’s revenue was up 54.3% on a year-over-year basis. Sell-side analysts predict that Shopify Inc will post -0.99 earnings per share for the current fiscal year.

A number of research firms recently commented on SHOP. Wells Fargo & Co began coverage on Shopify in a research note on Tuesday, December 18th. They issued an “outperform” rating and a $175.00 target price on the stock. Robert W. Baird increased their target price on Shopify from $165.00 to $188.00 and gave the company an “outperform” rating in a research note on Wednesday, February 13th. Rosenblatt Securities increased their target price on Shopify from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Thursday, February 14th. Roth Capital increased their target price on Shopify from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 13th. Finally, KeyCorp increased their target price on Shopify from $182.00 to $197.00 and gave the company an “overweight” rating in a research note on Wednesday, February 13th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Shopify has a consensus rating of “Buy” and a consensus target price of $191.00.

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Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, 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, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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