Toronto Dominion Bank Sells 224,550 Shares of Shopify Inc. (NYSE:SHOP)

Toronto Dominion Bank lowered its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,684,502 shares of the software maker’s stock after selling 224,550 shares during the period. Toronto Dominion Bank owned about 0.21% of Shopify worth $177,311,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Shopify by 9.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 469,529 shares of the software maker’s stock valued at $36,576,000 after acquiring an additional 41,205 shares during the last quarter. US Bancorp DE raised its holdings in Shopify by 9.6% during the 4th quarter. US Bancorp DE now owns 68,229 shares of the software maker’s stock valued at $5,315,000 after buying an additional 5,985 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in Shopify during the 4th quarter valued at $432,000. Orion Portfolio Solutions LLC increased its position in shares of Shopify by 51.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 37,272 shares of the software maker’s stock valued at $2,896,000 after acquiring an additional 12,704 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its stake in shares of Shopify by 3.2% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 4,839 shares of the software maker’s stock valued at $377,000 after acquiring an additional 150 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on SHOP shares. Roth Mkm raised their price target on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. KeyCorp started coverage on shares of Shopify in a research report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 target price for the company. Evercore ISI boosted their price target on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, UBS Group lifted their price objective on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.92.

Shopify Price Performance

NYSE:SHOP opened at $80.34 on Wednesday. The business’s 50-day moving average is $68.94 and its 200 day moving average is $68.40. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The company has a market capitalization of $103.53 billion, a P/E ratio of -472.59, a P/E/G ratio of 2.68 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 (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data 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 business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the firm earned ($0.08) EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities research analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current fiscal 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.