Capital Advisors Inc. OK lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 112.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 384 shares of the software maker’s stock after acquiring an additional 203 shares during the quarter. Capital Advisors Inc. OK’s holdings in Shopify were worth $561,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. raised its holdings in shares of Shopify by 2.5% during the first quarter. Baillie Gifford & Co. now owns 5,868,340 shares of the software maker’s stock worth $6,493,317,000 after acquiring an additional 143,601 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Shopify by 8.4% during the first quarter. Jennison Associates LLC now owns 4,651,415 shares of the software maker’s stock worth $5,146,791,000 after acquiring an additional 361,625 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Shopify by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,772,038 shares of the software maker’s stock worth $3,066,852,000 after acquiring an additional 134,384 shares in the last quarter. WCM Investment Management LLC raised its holdings in shares of Shopify by 2.5% during the first quarter. WCM Investment Management LLC now owns 1,985,217 shares of the software maker’s stock worth $2,196,643,000 after acquiring an additional 48,640 shares in the last quarter. Finally, Sands Capital Management LLC raised its holdings in shares of Shopify by 44.3% during the first quarter. Sands Capital Management LLC now owns 1,278,320 shares of the software maker’s stock worth $1,414,461,000 after acquiring an additional 392,446 shares in the last quarter. 55.09% of the stock is owned by institutional investors and hedge funds.
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NYSE:SHOP opened at $1,466.11 on Friday. Shopify Inc. has a 1 year low of $839.40 and a 1 year high of $1,650.00. The firm has a 50 day moving average price of $1,489.60. The company has a quick ratio of 16.55, a current ratio of 16.55 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $182.28 billion, a PE ratio of 75.69, a P/E/G ratio of 39.29 and a beta of 1.44.
Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, July 28th. The software maker reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $2.01. Shopify had a net margin of 63.65% and a return on equity of 7.15%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. On average, analysts anticipate that Shopify Inc. will post 1.53 earnings per share for the current fiscal year.
Several analysts recently issued reports on the company. Credit Suisse Group increased their price objective on Shopify from $1,400.00 to $1,700.00 and gave the stock a “neutral” rating in a report on Thursday, July 29th. Guggenheim set a $1,442.63 target price on Shopify and gave the company a “hold” rating in a report on Sunday, July 18th. Citigroup raised their target price on Shopify from $1,315.00 to $1,420.00 in a report on Thursday, April 29th. Piper Sandler raised their target price on Shopify from $1,500.00 to $1,600.00 and gave the company an “overweight” rating in a report on Wednesday, April 28th. Finally, Wolfe Research raised their target price on Shopify from $1,500.00 to $1,980.00 and gave the company an “outperform” rating in a report on Thursday, July 29th. Eleven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $1,621.25.
About Shopify
Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, the United Kingdom, Australia, Latin America, and internationally. The company's platform provides merchants to run their business in 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, and access financing.
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