Shopify Inc. (NYSE:SHOP) Shares Purchased by Parcion Private Wealth LLC

Parcion Private Wealth LLC raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,151 shares of the software maker’s stock after purchasing an additional 290 shares during the quarter. Parcion Private Wealth LLC’s holdings in Shopify were worth $208,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SHOP shares. JPMorgan Chase & Co. boosted their target price on Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Barclays raised their target price on Shopify from $63.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Wells Fargo & Company raised their price objective on shares of Shopify from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Roth Mkm increased their target price on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.11.

Shopify Trading Down 4.4 %

Shares of SHOP stock opened at $67.01 on Friday. The firm’s 50-day simple moving average is $66.99 and its 200-day simple moving average is $68.56. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The firm has a market cap of $86.35 billion, a P/E ratio of -394.18, a PEG ratio of 2.35 and a beta of 2.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued 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. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. Shopify’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.08) earnings per share. As a group, equities analysts forecast that Shopify Inc. will post 0.76 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.