Bellecapital International Ltd. increased its stake in shares of Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 13.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,951 shares of the software maker’s stock after buying an additional 5,116 shares during the quarter. Bellecapital International Ltd.’s holdings in Shopify were worth $2,059,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. First Bank & Trust lifted its position in Shopify by 20.7% during the first quarter. First Bank & Trust now owns 21,983 shares of the software maker’s stock worth $1,054,000 after buying an additional 3,775 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its position in Shopify by 1.8% during the first quarter. NorthCrest Asset Manangement LLC now owns 102,370 shares of the software maker’s stock worth $4,908,000 after buying an additional 1,770 shares in the last quarter. Zullo Investment Group Inc. lifted its position in Shopify by 16.1% during the first quarter. Zullo Investment Group Inc. now owns 10,588 shares of the software maker’s stock worth $508,000 after buying an additional 1,468 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Shopify during the first quarter worth approximately $174,000. Finally, D.A. Davidson & CO. lifted its position in Shopify by 6.3% during the first quarter. D.A. Davidson & CO. now owns 54,370 shares of the software maker’s stock worth $2,606,000 after buying an additional 3,208 shares in the last quarter. Hedge funds and other institutional investors own 58.14% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on SHOP shares. Loop Capital reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, May 9th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating and lifted their target price for the company from $47.00 to $55.00 in a research report on Tuesday, May 9th. Jefferies Financial Group lifted their target price on Shopify from $44.00 to $65.00 in a research report on Sunday, June 11th. Deutsche Bank Aktiengesellschaft lifted their target price on Shopify from $67.00 to $75.00 in a research report on Wednesday, June 21st. Finally, Robert W. Baird lifted their target price on Shopify from $55.00 to $65.00 in a research report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.20.
Shopify Stock Performance
SHOP traded down $0.16 on Friday, hitting $61.67. 7,984,149 shares of the company traded hands, compared to its average volume of 11,072,395. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $61.05 and a 200-day moving average of $49.73. Shopify Inc. has a 12-month low of $23.63 and a 12-month high of $67.36. The stock has a market capitalization of $78.73 billion, a PE ratio of -40.84 and a beta of 2.02.
Shopify (NYSE:SHOP – Free Report) (TSE:SHOP) last released its earnings results on Thursday, May 4th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.08. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Shopify had a negative return on equity of 6.02% and a negative net margin of 32.49%. Sell-side analysts anticipate that Shopify Inc. will post -0.14 earnings per share for the current year.
Shopify Profile
Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, 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.