Wellington Shields Capital Management LLC Boosts Stake in Shopify Inc (SHOP)

Wellington Shields Capital Management LLC lifted its position in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 50.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,000 shares of the software maker’s stock after buying an additional 1,000 shares during the period. Wellington Shields Capital Management LLC’s holdings in Shopify were worth $493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Penserra Capital Management LLC lifted its position in shares of Shopify by 24.6% during the 3rd quarter. Penserra Capital Management LLC now owns 54,349 shares of the software maker’s stock worth $8,938,000 after purchasing an additional 10,730 shares during the last quarter. BP PLC bought a new position in Shopify during the third quarter valued at about $1,727,000. FineMark National Bank & Trust bought a new position in Shopify during the third quarter valued at about $214,000. CIBC Asset Management Inc increased its stake in Shopify by 4.1% during the third quarter. CIBC Asset Management Inc now owns 223,832 shares of the software maker’s stock valued at $36,766,000 after acquiring an additional 8,857 shares during the period. Finally, Comerica Bank increased its stake in Shopify by 8.1% during the third quarter. Comerica Bank now owns 8,289 shares of the software maker’s stock valued at $1,095,000 after acquiring an additional 618 shares during the period. 60.59% of the stock is currently owned by institutional investors.

SHOP has been the topic of several research reports. National Bank Financial boosted their price target on Shopify from $160.00 to $180.00 and gave the company a “$173.26” rating in a research note on Monday, July 23rd. Rosenblatt Securities initiated coverage on Shopify in a research note on Tuesday, September 4th. They set a “buy” rating and a $188.00 price target on the stock. Guggenheim initiated coverage on Shopify in a research note on Tuesday, August 7th. They set a “buy” rating and a $180.00 price target on the stock. Roth Capital lowered their price target on Shopify from $192.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, August 1st. Finally, Canaccord Genuity boosted their price target on Shopify from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $166.59.

SHOP stock opened at $140.90 on Friday. Shopify Inc has a 1-year low of $92.41 and a 1-year high of $176.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.82 and a current ratio of 11.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Thursday, October 25th. The software maker reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.34. Shopify had a negative return on equity of 4.26% and a negative net margin of 6.93%. The company had revenue of $270.06 million for the quarter, compared to analyst estimates of $257.17 million. As a group, equities research analysts predict that Shopify Inc will post -0.63 earnings per share for the current year.

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About Shopify

Shopify Inc 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, 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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