Legal & General Group Plc raised its holdings in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 423,117 shares of the software maker’s stock after purchasing an additional 13,747 shares during the quarter. Legal & General Group Plc owned 0.36% of Shopify worth $175,385,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SHOP. First Trust Advisors LP grew its stake in shares of Shopify by 15.6% in the 1st quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock worth $723,000 after acquiring an additional 472 shares in the last quarter. Clear Perspective Advisors LLC bought a new stake in shares of Shopify in the 4th quarter worth $200,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Shopify in the 4th quarter worth $3,158,000. Naples Global Advisors LLC bought a new stake in shares of Shopify in the 4th quarter worth $212,000. Finally, Samalin Investment Counsel LLC bought a new stake in shares of Shopify in the 4th quarter worth $131,000. Hedge funds and other institutional investors own 60.27% of the company’s stock.
Several research firms have recently issued reports on SHOP. Piper Sandler upped their target price on shares of Shopify from $332.00 to $733.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Wells Fargo & Co lowered shares of Shopify from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $500.00 to $700.00 in a research report on Thursday, May 7th. Wedbush increased their price target on shares of Shopify from $445.00 to $550.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Zacks Investment Research upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $866.00 price target for the company in a research report on Tuesday, May 26th. Finally, Roth Capital restated a “hold” rating and set a $625.00 price target (up previously from $320.00) on shares of Shopify in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the stock. Shopify currently has a consensus rating of “Hold” and a consensus target price of $652.46.
Shares of Shopify stock traded down $11.39 on Thursday, reaching $732.25. The stock had a trading volume of 1,462,649 shares, compared to its average volume of 3,148,502. Shopify Inc has a 1 year low of $281.69 and a 1 year high of $844.00. The company has a market cap of $87.17 billion, a P/E ratio of -635.86 and a beta of 1.53. The company has a current ratio of 9.45, a quick ratio of 9.45 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $718.19 and its two-hundred day moving average is $500.06.
Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.89. Shopify had a negative net margin of 7.65% and a negative return on equity of 2.56%. The firm had revenue of $470.00 million for the quarter, compared to the consensus estimate of $442.92 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The company’s revenue for the quarter was up 46.6% on a year-over-year basis. On average, equities analysts anticipate that Shopify Inc will post -1.63 EPS for the current fiscal year.
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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