Marshall Wace LLP Sells 568,816 Shares of Shopify Inc. (NYSE:SHOP)

Marshall Wace LLP trimmed its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 15.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,027,615 shares of the software maker’s stock after selling 568,816 shares during the quarter. Marshall Wace LLP owned 0.23% of Shopify worth $199,974,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Tradition Wealth Management LLC boosted its position in Shopify by 7.5% during the 4th quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock worth $156,000 after acquiring an additional 140 shares during the last quarter. Willis Johnson & Associates Inc. boosted its position in Shopify by 5.8% during the 1st quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock worth $211,000 after acquiring an additional 149 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its position in Shopify by 3.2% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 4,839 shares of the software maker’s stock worth $377,000 after acquiring an additional 150 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in shares of Shopify by 11.4% in the 1st quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock valued at $114,000 after buying an additional 152 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its holdings in shares of Shopify by 4.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 4,178 shares of the software maker’s stock valued at $322,000 after buying an additional 162 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SHOP has been the subject of several recent analyst reports. Citigroup cut their price objective on Shopify from $97.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Wolfe Research initiated coverage on Shopify in a report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 price objective for the company. UBS Group increased their price objective on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price objective on shares of Shopify in a report on Monday. Finally, Evercore raised their price target on Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average target price of $77.92.

Shopify Price Performance

Shopify stock opened at $80.11 on Tuesday. The stock’s 50 day moving average is $68.72 and its 200 day moving average is $68.37. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The firm has a market cap of $103.24 billion, a P/E ratio of -471.24, a P/E/G ratio of 2.47 and a beta of 2.35. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57.

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

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.