National Asset Management Inc. grew its holdings in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 141.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,966 shares of the software maker’s stock after purchasing an additional 1,736 shares during the quarter. National Asset Management Inc.’s holdings in Shopify were worth $1,237,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP grew its stake in shares of Shopify by 15.6% during the 1st quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock valued at $723,000 after acquiring an additional 472 shares during the period. Capital Investment Advisors LLC bought a new position in shares of Shopify during the 4th quarter valued at approximately $343,000. Janney Montgomery Scott LLC grew its stake in shares of Shopify by 11.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,072 shares of the software maker’s stock valued at $2,812,000 after acquiring an additional 705 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Shopify by 5.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,686 shares of the software maker’s stock worth $8,622,000 after purchasing an additional 1,082 shares during the period. Finally, NEXT Financial Group Inc boosted its stake in Shopify by 18.4% in the 4th quarter. NEXT Financial Group Inc now owns 477 shares of the software maker’s stock worth $190,000 after purchasing an additional 74 shares during the period. 57.84% of the stock is owned by hedge funds and other institutional investors.
NYSE:SHOP traded up $22.82 during midday trading on Friday, hitting $825.17. 2,761,628 shares of the company traded hands, compared to its average volume of 3,898,984. The firm’s fifty day moving average is $595.63 and its 200-day moving average is $456.64. Shopify Inc has a 12-month low of $262.17 and a 12-month high of $826.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 9.45 and a current ratio of 9.45.
Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.70) by $0.89. Shopify had a negative return on equity of 2.56% and a negative net margin of 7.65%. The company had revenue of $470.00 million for the quarter, compared to analyst estimates of $442.92 million. During the same quarter in the prior year, the firm posted $0.09 EPS. Shopify’s quarterly revenue was up 46.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Shopify Inc will post -2.26 earnings per share for the current year.
SHOP has been the subject of several recent analyst reports. CIBC restated a “hold” rating and issued a $600.00 price target on shares of Shopify in a research note on Thursday, February 13th. National Bank Financial upped their price target on Shopify from $800.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Piper Sandler upped their price target on Shopify from $332.00 to $733.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. UBS Group restated an “underperform” rating and issued a $450.00 price target on shares of Shopify in a research note on Thursday, February 13th. They noted that the move was a valuation call. Finally, SunTrust Banks upped their price target on Shopify from $585.00 to $700.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and nine have given a buy rating to the company. Shopify presently has a consensus rating of “Hold” and a consensus price target of $620.22.
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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