Sei Investments Co. Acquires 862,294 Shares of Shopify Inc. (NYSE:SHOP)

Sei Investments Co. increased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 78.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,958,984 shares of the software maker’s stock after acquiring an additional 862,294 shares during the quarter. Sei Investments Co. owned 0.15% of Shopify worth $129,391,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Shopify by 9.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 469,529 shares of the software maker’s stock valued at $36,576,000 after purchasing an additional 41,205 shares during the period. Coldstream Capital Management Inc. acquired a new position in Shopify during the 4th quarter worth approximately $251,000. Corient Private Wealth LLC boosted its holdings in Shopify by 6.1% in the fourth quarter. Corient Private Wealth LLC now owns 82,347 shares of the software maker’s stock worth $6,415,000 after acquiring an additional 4,731 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in Shopify in the fourth quarter valued at approximately $307,000. Finally, Assetmark Inc. increased its holdings in shares of Shopify by 14.1% during the fourth quarter. Assetmark Inc. now owns 46,379 shares of the software maker’s stock valued at $3,613,000 after acquiring an additional 5,743 shares in the last quarter. 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. JMP Securities reiterated a “market outperform” rating and issued a $80.00 target price on shares of Shopify in a report on Tuesday, September 10th. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Tuesday. Wedbush reissued a “neutral” rating and set a $72.00 target price (up from $68.00) on shares of Shopify in a research report on Wednesday, August 7th. UBS Group upped their target price on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Roth Mkm lifted their price target on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.92.

Shopify Stock Up 0.0 %

Shopify stock opened at $78.71 on Friday. The firm has a 50 day simple moving average of $68.41 and a 200 day simple moving average of $68.41. 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. The firm has a market capitalization of $101.43 billion, a price-to-earnings ratio of -463.00, a P/E/G ratio of 2.47 and a beta of 2.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) earnings per share. On average, analysts predict that Shopify Inc. will post 0.76 earnings per share 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.