National Asset Management Inc. boosted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 21.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,780 shares of the software maker’s stock after acquiring an additional 485 shares during the quarter. National Asset Management Inc.’s holdings in Shopify were worth $2,765,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Integrated Advisors Network LLC purchased a new stake in Shopify in the third quarter worth $544,000. Valmark Advisers Inc. raised its holdings in shares of Shopify by 4.9% in the third quarter. Valmark Advisers Inc. now owns 298 shares of the software maker’s stock valued at $305,000 after acquiring an additional 14 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC purchased a new stake in Shopify in the third quarter worth about $272,000. LPL Financial LLC grew its holdings in Shopify by 8.0% during the 3rd quarter. LPL Financial LLC now owns 43,396 shares of the software maker’s stock worth $44,393,000 after acquiring an additional 3,223 shares in the last quarter. Finally, Banco Santander S.A. increased its position in Shopify by 36.1% during the 3rd quarter. Banco Santander S.A. now owns 3,533 shares of the software maker’s stock valued at $3,614,000 after purchasing an additional 937 shares during the period. 59.45% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on SHOP. ValuEngine upgraded shares of Shopify from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. The Goldman Sachs Group increased their target price on Shopify from $1,318.00 to $1,323.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Bank of America reissued a “sell” rating and issued a $900.00 price target on shares of Shopify in a research report on Wednesday, July 29th. Loop Capital dropped their price objective on Shopify from $1,100.00 to $1,000.00 and set a “hold” rating on the stock in a research report on Monday, September 21st. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $1,250.00 target price on shares of Shopify in a report on Thursday, October 1st. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the stock. Shopify currently has a consensus rating of “Hold” and an average target price of $1,027.07.
NYSE SHOP traded down $1.39 during trading hours on Tuesday, reaching $917.83. The stock had a trading volume of 9,943 shares, compared to its average volume of 2,654,492. Shopify Inc. has a 52-week low of $305.30 and a 52-week high of $1,146.91. The stock has a fifty day moving average of $1,015.76 and a 200 day moving average of $930.88. The stock has a market cap of $110.87 billion, a P/E ratio of -1,504.89, a price-to-earnings-growth ratio of 96.18 and a beta of 1.48.
Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Thursday, October 29th. The software maker reported $1.13 EPS for the quarter, beating the consensus estimate of ($0.08) by $1.21. The business had revenue of $767.40 million during the quarter, compared to analysts’ expectations of $652.60 million. Shopify had a negative net margin of 3.25% and a positive return on equity of 0.32%. The business’s quarterly revenue was up 96.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.29) EPS. On average, equities analysts forecast that Shopify Inc. will post 0.34 earnings per share for the current fiscal year.
Shopify Company Profile
Shopify Inc, a commerce company, provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, 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, fulfill and ship orders, build customer relationships, source products, leverage analytics and reporting, and access financing.
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