Shopify Inc. (NYSE:SHOP) Shares Acquired by Bokf Na

Bokf Na boosted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 36.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,794 shares of the software maker’s stock after acquiring an additional 2,072 shares during the quarter. Bokf Na’s holdings in Shopify were worth $515,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Achmea Investment Management B.V. raised its stake in shares of Shopify by 10.1% during the second quarter. Achmea Investment Management B.V. now owns 85,169 shares of the software maker’s stock valued at $5,628,000 after purchasing an additional 7,789 shares in the last quarter. American Century Companies Inc. raised its position in shares of Shopify by 61.1% during the 2nd quarter. American Century Companies Inc. now owns 1,444,714 shares of the software maker’s stock worth $95,439,000 after buying an additional 547,700 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new stake in shares of Shopify in the 2nd quarter worth approximately $33,000. Wellington Shields & Co. LLC boosted its holdings in shares of Shopify by 8.8% in the second quarter. Wellington Shields & Co. LLC now owns 24,693 shares of the software maker’s stock valued at $1,631,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Garrison Point Advisors LLC raised its holdings in Shopify by 26.9% during the second quarter. Garrison Point Advisors LLC now owns 5,785 shares of the software maker’s stock worth $382,000 after purchasing an additional 1,225 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 1.6 %

SHOP opened at $73.59 on Tuesday. The business has a 50 day moving average of $67.50 and a 200-day moving average of $68.28. The stock has a market capitalization of $94.83 billion, a price-to-earnings ratio of -432.88, a P/E/G ratio of 2.39 and a beta of 2.35. 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 1-year low of $45.50 and a 1-year high of $91.57.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SHOP. Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price target on shares of Shopify in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their target price on Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Piper Sandler reissued a “neutral” rating and issued a $67.00 price target on shares of Shopify in a report on Thursday, August 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price objective on shares of Shopify in a research note on Tuesday, September 10th. Finally, KeyCorp started coverage on shares of Shopify in a report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $77.37.

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.