Shopify Inc. (NYSE:SHOP) Shares Bought by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,862 shares of the software maker’s stock after purchasing an additional 557 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Shopify were worth $606,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its holdings in shares of Shopify by 49.4% in the 3rd quarter. Acadian Asset Management LLC now owns 9,340 shares of the software maker’s stock worth $509,000 after acquiring an additional 3,089 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Shopify by 4.3% in the 3rd quarter. Northern Trust Corp now owns 538,465 shares of the software maker’s stock worth $29,384,000 after acquiring an additional 22,315 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Shopify by 6.7% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 29,751 shares of the software maker’s stock worth $1,624,000 after acquiring an additional 1,857 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Shopify by 4.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 108,881 shares of the software maker’s stock worth $5,942,000 after acquiring an additional 4,907 shares during the last quarter. Finally, Numerai GP LLC acquired a new position in shares of Shopify in the 3rd quarter worth approximately $583,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SHOP has been the topic of several recent analyst reports. CIBC decreased their price objective on shares of Shopify from $100.00 to $85.00 and set an “outperformer” rating on the stock in a report on Thursday, May 9th. Wells Fargo & Company decreased their price objective on shares of Shopify from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Evercore ISI upgraded shares of Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Friday, June 14th. Royal Bank of Canada reduced their target price on shares of Shopify from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Finally, The Goldman Sachs Group increased their target price on shares of Shopify from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $76.39.

Shopify Stock Up 1.8 %

Shares of NYSE:SHOP opened at $65.03 on Monday. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The stock has a market cap of $83.80 billion, a P/E ratio of -382.53, a P/E/G ratio of 3.21 and a beta of 2.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14. The firm has a fifty day moving average price of $64.57 and a 200 day moving average price of $73.26.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Sell-side analysts predict that Shopify Inc. will post 0.61 EPS for the current year.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.