BLB&B Advisors LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,250 shares of the software maker's stock, valued at approximately $217,000.
Other large investors have also bought and sold shares of the company. Renaissance Technologies LLC bought a new position in shares of Shopify in the 2nd quarter worth about $438,508,000. ARK Investment Management LLC raised its position in shares of Shopify by 1,097.6% in the 3rd quarter. ARK Investment Management LLC now owns 14,532,528 shares of the software maker's stock worth $391,506,000 after acquiring an additional 13,319,042 shares in the last quarter. WCM Investment Management LLC raised its position in shares of Shopify by 715.9% in the 2nd quarter. WCM Investment Management LLC now owns 14,775,238 shares of the software maker's stock worth $488,322,000 after acquiring an additional 12,964,310 shares in the last quarter. Scge Management L.P. raised its position in shares of Shopify by 900.0% in the 2nd quarter. Scge Management L.P. now owns 9,320,000 shares of the software maker's stock worth $291,157,000 after acquiring an additional 8,388,000 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of Shopify by 13.1% in the 3rd quarter. Baillie Gifford & Co. now owns 64,511,049 shares of the software maker's stock valued at $1,737,944,000 after buying an additional 7,465,746 shares during the period. 56.31% of the stock is owned by institutional investors.
Get Shopify alerts:Shopify Trading Down 1.8 %
NYSE:SHOP opened at $44.98 on Friday. The company has a quick ratio of 7.07, a current ratio of 7.07 and a debt-to-equity ratio of 0.17. The firm's 50 day moving average is $44.96 and its 200 day moving average is $37.71. Shopify Inc. has a 12 month low of $23.63 and a 12 month high of $75.88.
Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, February 15th. The software maker reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.10. The company had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.64 billion. Shopify had a negative net margin of 61.79% and a negative return on equity of 5.62%. Equities research analysts expect that Shopify Inc. will post -0.44 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts have recently commented on the company. Wolfe Research downgraded Shopify from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, December 7th. Canaccord Genuity Group raised their target price on Shopify from $40.00 to $45.00 and gave the company a "hold" rating in a research note on Thursday, February 16th. UBS Group assumed coverage on Shopify in a research note on Thursday, December 8th. They issued a "sell" rating and a $30.00 target price for the company. Roth Capital upgraded Shopify from a "neutral" rating to a "buy" rating and raised their target price for the company from $38.00 to $56.00 in a research note on Monday, January 30th. Finally, William Blair restated an "outperform" rating on shares of Shopify in a research note on Wednesday, January 25th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $47.38.
Shopify Profile
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Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm's platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.
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