Vontobel Holding Ltd. Decreases Holdings in Shopify Inc. (NYSE:SHOP)

Vontobel Holding Ltd. lowered its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 46.1% during the third quarter, HoldingsChannel reports. The fund owned 16,438 shares of the software maker’s stock after selling 14,065 shares during the period. Vontobel Holding Ltd.’s holdings in Shopify were worth $1,317,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norden Group LLC acquired a new stake in Shopify during the first quarter worth approximately $3,618,000. Silvercrest Asset Management Group LLC raised its stake in Shopify by 735.0% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after acquiring an additional 46,589 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Shopify by 5.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock valued at $40,838,000 after acquiring an additional 28,639 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Shopify by 54.2% in the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after acquiring an additional 1,657,251 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Shopify by 1.7% during the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after purchasing an additional 713,064 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE:SHOP opened at $82.68 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The business’s fifty day moving average price is $76.26 and its two-hundred day moving average price is $68.87. The stock has a market cap of $106.55 billion, a PE ratio of 84.37, a price-to-earnings-growth ratio of 2.80 and a beta of 2.36. 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, beating analysts’ consensus estimates 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 analyst estimates of $2.01 billion. During the same quarter last year, the company earned ($0.08) earnings per share. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, analysts forecast that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on SHOP. Benchmark reissued a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Citigroup upped their price target on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised their price objective on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. 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 for the company. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus price target of $79.36.

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.