Willingdon Wealth Management trimmed its holdings in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 12.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 350 shares of the software maker’s stock after selling 50 shares during the period. Willingdon Wealth Management’s holdings in Shopify were worth $105,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Henry James International Management Inc. raised its position in shares of Shopify by 140.7% in the first quarter. Henry James International Management Inc. now owns 33,947 shares of the software maker’s stock valued at $7,014,000 after buying an additional 19,846 shares during the last quarter. Weaver Consulting Group acquired a new stake in Shopify during the first quarter worth about $54,000. Bollard Group LLC increased its position in Shopify by 28.5% during the first quarter. Bollard Group LLC now owns 26,150 shares of the software maker’s stock worth $5,403,000 after purchasing an additional 5,800 shares during the last quarter. B. Riley Wealth Management Inc. increased its position in Shopify by 21.4% during the first quarter. B. Riley Wealth Management Inc. now owns 3,897 shares of the software maker’s stock worth $805,000 after purchasing an additional 688 shares during the last quarter. Finally, BKS Advisors LLC acquired a new stake in Shopify during the first quarter worth about $289,000. Institutional investors and hedge funds own 65.72% of the company’s stock.
Shares of SHOP traded down $15.37 during trading on Wednesday, reaching $351.36. 1,226,815 shares of the company traded hands, compared to its average volume of 1,706,305. Shopify Inc has a twelve month low of $117.64 and a twelve month high of $372.36. The firm has a market cap of $40.84 billion, a PE ratio of -576.00 and a beta of 1.30. The business’s 50-day moving average is $325.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 11.44 and a current ratio of 11.44.
Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.45. Shopify had a negative net margin of 5.98% and a negative return on equity of 3.85%. The business had revenue of $361.98 million during the quarter, compared to analysts’ expectations of $350.59 million. During the same period last year, the business earned $0.02 earnings per share. The business’s revenue for the quarter was up 47.8% on a year-over-year basis. Sell-side analysts predict that Shopify Inc will post -0.79 EPS for the current fiscal year.
Several research firms recently issued reports on SHOP. Bank of America raised their price objective on shares of Shopify from $185.00 to $300.00 and gave the stock an “underperform” rating in a research report on Friday, August 2nd. Guggenheim cut shares of Shopify from a “buy” rating to a “neutral” rating in a research report on Monday, May 13th. They noted that the move was a valuation call. CIBC cut shares of Shopify from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $260.00 to $350.00 in a research report on Thursday, June 20th. They noted that the move was a valuation call. Morgan Stanley cut shares of Shopify from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $173.00 to $209.00 in a research report on Tuesday, May 14th. They noted that the move was a valuation call. Finally, Royal Bank of Canada raised their price objective on shares of Shopify to $400.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $327.00.
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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