Shopify Inc. (NYSE:SHOP) Shares Acquired by Holistic Financial Partners

Holistic Financial Partners lifted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,547 shares of the software maker’s stock after purchasing an additional 182 shares during the period. Holistic Financial Partners’ holdings in Shopify were worth $234,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GQG Partners LLC boosted its stake in shares of Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after acquiring an additional 13,885,473 shares in the last quarter. Norges Bank purchased a new stake in Shopify during the fourth quarter worth $1,049,089,000. Capital World Investors grew its holdings in Shopify by 26.2% in the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after purchasing an additional 10,340,040 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Shopify by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after buying an additional 5,982,434 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Shopify by 214.5% during the 1st quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock worth $224,492,000 after buying an additional 1,983,996 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 1.1 %

Shares of NYSE SHOP opened at $74.07 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. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The business has a 50-day moving average price of $66.47 and a two-hundred day moving average price of $68.99. The firm has a market capitalization of $95.45 billion, a PE ratio of -435.71, a PEG ratio of 2.48 and a beta of 2.30.

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

Analyst Ratings Changes

Several brokerages have issued reports on SHOP. Mizuho reduced their price target on shares of Shopify from $75.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. JPMorgan Chase & Co. upped their target price on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Wolfe Research assumed coverage on Shopify in a research report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 price target for the company. Morgan Stanley upped their price objective on Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Atb Cap Markets upgraded Shopify from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $77.30.

Shopify Company 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.