Shopify Inc. (NYSE:SHOP) Shares Purchased by Anchor Investment Management LLC

Anchor Investment Management LLC raised its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 31.5% in the second quarter, Holdings Channel.com reports. The fund owned 865 shares of the software maker’s stock after acquiring an additional 207 shares during the period. Anchor Investment Management LLC’s holdings in Shopify were worth $57,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in Shopify in the fourth quarter worth approximately $28,000. Cultivar Capital Inc. bought a new position in shares of Shopify in the second quarter valued at $33,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Shopify during the 2nd quarter valued at $33,000. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of Shopify during the 4th quarter valued at $39,000. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SHOP shares. Morgan Stanley lifted their target price on Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. UBS Group boosted their price objective on Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Shopify in a research note on Thursday, August 8th. Wolfe Research started coverage on shares of Shopify in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, Loop Capital boosted their price target on shares of Shopify from $68.00 to $80.00 and gave the company a “hold” rating in a report on Friday, August 16th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $78.38.

Shopify Trading Up 5.5 %

NYSE:SHOP opened at $82.42 on Friday. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $71.79 and its 200-day moving average is $68.66. The firm has a market cap of $106.21 billion, a price-to-earnings ratio of -484.82, a P/E/G ratio of 2.65 and a beta of 2.36. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its 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 firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) EPS. Equities analysts anticipate 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.