Addenda Capital Inc. decreased its holdings in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 20.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,900 shares of the software maker’s stock after selling 12,730 shares during the quarter. Shopify makes up 1.1% of Addenda Capital Inc.’s holdings, making the stock its 25th biggest position. Addenda Capital Inc.’s holdings in Shopify were worth $14,729,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in SHOP. Valeo Financial Advisors LLC boosted its stake in Shopify by 39.4% in the second quarter. Valeo Financial Advisors LLC now owns 191 shares of the software maker’s stock valued at $57,000 after buying an additional 54 shares in the last quarter. Calton & Associates Inc. acquired a new stake in Shopify in the second quarter valued at about $216,000. Weaver Consulting Group acquired a new stake in Shopify in the first quarter valued at about $54,000. First Trust Advisors LP boosted its stake in Shopify by 15.6% in the first quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock valued at $723,000 after buying an additional 472 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. acquired a new stake in Shopify in the first quarter valued at about $200,000. 66.40% of the stock is owned by institutional investors and hedge funds.
Shares of Shopify stock traded down $5.02 during midday trading on Tuesday, reaching $330.22. The company had a trading volume of 1,652,062 shares, compared to its average volume of 1,669,198. The stock’s fifty day moving average is $312.03. The company has a current ratio of 12.56, a quick ratio of 12.57 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $36.76 billion, a price-to-earnings ratio of -541.34 and a beta of 1.31. Shopify Inc has a fifty-two week low of $117.64 and a fifty-two week high of $340.84.
Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.44. The company had revenue of $320.50 million for the quarter, compared to analyst estimates of $310.11 million. Shopify had a negative return on equity of 3.74% and a negative net margin of 6.17%. The firm’s quarterly revenue was up 49.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 earnings per share. Research analysts forecast that Shopify Inc will post -0.78 earnings per share for the current fiscal year.
SHOP has been the topic of several research analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Beigene in a research note on Thursday, June 20th. National Bank Financial lifted their price target on Shopify from $270.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. KeyCorp reissued an “overweight” rating and set a $350.00 price target (up from $300.00) on shares of Shopify in a research note on Monday, July 8th. DA Davidson cut their price target on Sally Beauty from $16.50 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, June 24th. Finally, Mackie lifted their price target on Shopify from $280.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $304.25.
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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