&Partners Invests $625,000 in Shopify Inc. (NYSE:SHOP)

&Partners bought a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 9,462 shares of the software maker’s stock, valued at approximately $625,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Shopify in the 4th quarter worth about $247,000. Yousif Capital Management LLC increased its position in Shopify by 21.3% in the 4th quarter. Yousif Capital Management LLC now owns 21,095 shares of the software maker’s stock valued at $1,643,000 after acquiring an additional 3,700 shares during the period. Bailard Inc. bought a new stake in Shopify during the 4th quarter valued at $2,642,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in Shopify by 187.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,599 shares of the software maker’s stock worth $358,000 after acquiring an additional 3,000 shares during the period. Finally, Callan Capital LLC bought a new position in shares of Shopify in the fourth quarter worth $380,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 2.5 %

Shares of NYSE:SHOP opened at $76.13 on Friday. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $98.11 billion, a PE ratio of -447.82, a P/E/G ratio of 2.50 and a beta of 2.30. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. The firm has a fifty day moving average price of $65.56 and a 200 day moving average price of $69.44.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the company posted ($0.08) EPS. The firm’s revenue was up 20.7% on a year-over-year basis. Analysts expect that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SHOP shares. DA Davidson reduced their price objective on shares of Shopify from $90.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Needham & Company LLC restated a “hold” rating on shares of Shopify in a research report on Thursday, May 9th. Piper Sandler lifted their price target on Shopify from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. KeyCorp started coverage on Shopify in a report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.30.

About Shopify

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.