Gilder Gagnon Howe & Co. LLC Sells 9,552 Shares of Shopify Inc (NYSE:SHOP)

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Gilder Gagnon Howe & Co. LLC lessened its stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 455,836 shares of the software maker’s stock after selling 9,552 shares during the period. Shopify accounts for about 3.4% of Gilder Gagnon Howe & Co. LLC’s holdings, making the stock its 4th biggest position. Gilder Gagnon Howe & Co. LLC owned approximately 0.39% of Shopify worth $432,680,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Sandy Spring Bank increased its position in Shopify by 5.4% during the 2nd quarter. Sandy Spring Bank now owns 195 shares of the software maker’s stock worth $185,000 after purchasing an additional 10 shares during the period. Ausdal Financial Partners Inc. increased its position in Shopify by 4.1% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 332 shares of the software maker’s stock worth $315,000 after purchasing an additional 13 shares during the period. Cetera Advisor Networks LLC increased its position in Shopify by 0.5% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,707 shares of the software maker’s stock worth $1,129,000 after purchasing an additional 14 shares during the period. Mutual Advisors LLC increased its position in Shopify by 2.3% during the 2nd quarter. Mutual Advisors LLC now owns 631 shares of the software maker’s stock worth $599,000 after purchasing an additional 14 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in Shopify by 70.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 34 shares of the software maker’s stock worth $32,000 after purchasing an additional 14 shares during the period. Hedge funds and other institutional investors own 59.45% of the company’s stock.

Several equities research analysts have recently commented on the company. Credit Suisse Group boosted their price target on Shopify from $700.00 to $850.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Atlantic Securities assumed coverage on Shopify in a research note on Wednesday, August 26th. They set an “overweight” rating and a $1,150.00 price target on the stock. Barclays boosted their price target on Shopify from $960.00 to $1,040.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Bank of America reissued a “sell” rating and set a $900.00 price target on shares of Shopify in a research note on Wednesday, July 29th. Finally, Citigroup boosted their price target on Shopify from $998.00 to $1,200.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have assigned a buy rating to the company. Shopify presently has a consensus rating of “Hold” and an average price target of $964.54.

SHOP traded down $42.68 during trading on Friday, hitting $973.02. The company’s stock had a trading volume of 3,466,854 shares, compared to its average volume of 1,774,343. The firm’s 50 day moving average price is $1,013.77 and its 200-day moving average price is $740.44. The stock has a market cap of $116.85 billion, a PE ratio of -1,595.09, a PEG ratio of 3,492.90 and a beta of 1.37. Shopify Inc has a twelve month low of $282.08 and a twelve month high of $1,146.91.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, July 29th. The software maker reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $1.04. The business had revenue of $714.34 million during the quarter, compared to the consensus estimate of $511.56 million. Shopify had a positive return on equity of 0.32% and a negative net margin of 3.25%. The business’s revenue for the quarter was up 97.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. As a group, research analysts expect that Shopify Inc will post 0.01 EPS for the current year.

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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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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