Shopify Inc. (NYSE:SHOP) Stock Holdings Lifted by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 72.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,348 shares of the software maker’s stock after acquiring an additional 4,350 shares during the period. Melqart Asset Management UK Ltd’s holdings in Shopify were worth $11,450,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Capital Advisors LLC purchased a new position in shares of Shopify in the first quarter worth approximately $30,000. Pinnacle Bancorp Inc. boosted its holdings in shares of Shopify by 133.3% during the first quarter. Pinnacle Bancorp Inc. now owns 28 shares of the software maker’s stock worth $31,000 after purchasing an additional 16 shares during the period. tru Independence LLC acquired a new stake in shares of Shopify during the fourth quarter worth approximately $33,959,000. Barrett Asset Management LLC acquired a new stake in Shopify in the first quarter valued at approximately $34,000. Finally, Hudock Inc. lifted its stake in Shopify by 142.9% in the first quarter. Hudock Inc. now owns 34 shares of the software maker’s stock valued at $37,000 after acquiring an additional 20 shares during the last quarter. 58.99% of the stock is currently owned by institutional investors and hedge funds.

Shopify stock traded up $17.37 on Thursday, hitting $1,586.73. The company’s stock had a trading volume of 56,277 shares, compared to its average volume of 1,244,901. The stock has a market capitalization of $197.28 billion, a price-to-earnings ratio of 124.09, a P/E/G ratio of 39.97 and a beta of 1.45. The company has a current ratio of 17.13, a quick ratio of 17.13 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $1,351.98. Shopify Inc. has a one year low of $839.40 and a one year high of $1,587.74.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, April 28th. The software maker reported $2.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $1.27. Shopify had a net margin of 46.67% and a return on equity of 6.52%. The company had revenue of $988.70 million for the quarter, compared to the consensus estimate of $851.43 million. During the same quarter in the previous year, the company earned $0.19 EPS. The firm’s revenue for the quarter was up 110.4% compared to the same quarter last year. On average, analysts predict that Shopify Inc. will post 1.53 EPS for the current fiscal year.

A number of research firms have issued reports on SHOP. Zacks Investment Research upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating and set a $1,514.00 target price for the company in a research note on Friday, July 16th. National Bankshares lifted their target price on shares of Shopify from $1,650.00 to $2,000.00 and gave the company an “outperform” rating in a research note on Friday, July 16th. Piper Sandler lifted their target price on shares of Shopify from $1,500.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Wednesday, April 28th. Susquehanna Bancshares lifted their target price on shares of Shopify from $1,500.00 to $1,800.00 and gave the company a “positive” rating in a research note on Thursday. Finally, lifted their price target on shares of Shopify from $1,315.00 to $1,420.00 and gave the company a “neutral” rating in a research report on Thursday, April 29th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Shopify presently has a consensus rating of “Buy” and an average price target of $1,495.08.

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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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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