WINTON GROUP Ltd Makes New $1.81 Million Investment in Shopify Inc. (NYSE:SHOP)

WINTON GROUP Ltd purchased a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the second quarter, Holdings Channel reports. The fund purchased 27,441 shares of the software maker’s stock, valued at approximately $1,812,000.

Other large investors also recently made changes to their positions in the company. Diversify Wealth Management LLC acquired a new stake in Shopify in the 2nd quarter worth approximately $3,820,000. Seven Mile Advisory lifted its stake in shares of Shopify by 6.1% in the second quarter. Seven Mile Advisory now owns 4,424 shares of the software maker’s stock worth $292,000 after buying an additional 255 shares during the last quarter. Williams Financial LLC bought a new stake in shares of Shopify during the 2nd quarter worth $694,000. Lyell Wealth Management LP grew its stake in Shopify by 20.9% in the 2nd quarter. Lyell Wealth Management LP now owns 156,201 shares of the software maker’s stock valued at $10,317,000 after buying an additional 27,041 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in Shopify by 104.5% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 17,116 shares of the software maker’s stock worth $1,131,000 after acquiring an additional 8,746 shares during the period. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America raised Shopify from a “neutral” rating to a “buy” rating and raised their price target for the company from $78.00 to $82.00 in a research report on Tuesday, July 16th. The Goldman Sachs Group increased their price objective on Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Wells Fargo & Company boosted their target price on shares of Shopify from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. JMP Securities reissued a “market outperform” rating and issued a $80.00 price target on shares of Shopify in a report on Tuesday, September 10th. Finally, Evercore ISI boosted their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.37.

Shopify Price Performance

SHOP opened at $72.45 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The stock has a market capitalization of $93.36 billion, a P/E ratio of -426.18, a price-to-earnings-growth ratio of 2.39 and a beta of 2.35. The company’s 50 day simple moving average is $67.38 and its 200-day simple moving average is $68.30. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. Sell-side analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through 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, manage cash, payments and transactions, and access financing.