Quest Capital Management Inc. ADV Has $350,000 Position in Shopify Inc (NYSE:SHOP)

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Quest Capital Management Inc. ADV reduced its stake in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 99.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,166 shares of the software maker’s stock after selling 112,560 shares during the quarter. Quest Capital Management Inc. ADV’s holdings in Shopify were worth $350,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Comerica Securities Inc. increased its position in shares of Shopify by 32.4% in the 4th quarter. Comerica Securities Inc. now owns 3,005 shares of the software maker’s stock valued at $416,000 after purchasing an additional 735 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of Shopify by 14.5% in the 1st quarter. Wedbush Securities Inc. now owns 2,466 shares of the software maker’s stock valued at $510,000 after purchasing an additional 312 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Shopify by 5.8% in the 1st quarter. Gulf International Bank UK Ltd now owns 1,825 shares of the software maker’s stock valued at $377,000 after purchasing an additional 100 shares during the last quarter. Henry James International Management Inc. increased its position in shares of Shopify by 140.7% in the 1st quarter. Henry James International Management Inc. now owns 33,947 shares of the software maker’s stock valued at $7,014,000 after purchasing an additional 19,846 shares during the last quarter. Finally, Brinker Capital Inc. purchased a new stake in shares of Shopify in the 1st quarter valued at approximately $228,000. Hedge funds and other institutional investors own 64.02% of the company’s stock.

A number of equities research analysts have commented on the stock. Guggenheim downgraded shares of Shopify from a “buy” rating to a “neutral” rating in a research report on Monday, May 13th. They noted that the move was a valuation call. Royal Bank of Canada increased their price objective on shares of Shopify to $400.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Mackie increased their price objective on shares of Shopify from $280.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Barclays increased their price objective on shares of Shopify from $225.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, June 21st. Finally, Jefferies Financial Group increased their price objective on shares of Shopify from $250.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $327.00.

NYSE:SHOP traded up $4.67 during trading hours on Tuesday, reaching $366.50. 16,627 shares of the company’s stock were exchanged, compared to its average volume of 1,983,136. The firm has a market capitalization of $40.34 billion, a price-to-earnings ratio of -599.15 and a beta of 1.30. The company has a 50-day moving average of $333.13 and a 200 day moving average of $257.35. The company has a quick ratio of 11.44, a current ratio of 11.44 and a debt-to-equity ratio of 0.05. Shopify Inc has a 1-year low of $117.64 and a 1-year high of $372.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.45. The firm had revenue of $361.98 million during the quarter, compared to analysts’ expectations of $350.59 million. Shopify had a negative net margin of 5.98% and a negative return on equity of 3.85%. Shopify’s quarterly revenue was up 47.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 EPS. Research analysts forecast that Shopify Inc will post -0.82 EPS for the current fiscal year.

Shopify 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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