Pacer Advisors Inc. Lowers Stock Holdings in Shopify Inc. (NYSE:SHOP)

Pacer Advisors Inc. lessened its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,471 shares of the software maker’s stock after selling 405 shares during the quarter. Pacer Advisors Inc.’s holdings in Shopify were worth $692,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new stake in shares of Shopify during the fourth quarter worth about $28,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Shopify in the fourth quarter worth $39,000. Cultivar Capital Inc. purchased a new stake in shares of Shopify during the second quarter worth $33,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Shopify during the second quarter worth $33,000. Finally, Private Wealth Management Group LLC raised its stake in shares of Shopify by 53.3% in the first quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock valued at $40,000 after acquiring an additional 180 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of SHOP opened at $79.21 on Friday. The firm has a market capitalization of $102.08 billion, a PE ratio of -465.94, a P/E/G ratio of 2.69 and a beta of 2.35. The stock’s 50 day moving average is $69.90 and its two-hundred day moving average is $68.59. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. 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 announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, topping 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 firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the company posted ($0.08) earnings per share. Shopify’s quarterly revenue was up 20.7% on a year-over-year basis. Research analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. KeyCorp started coverage on Shopify in a report on Thursday, July 25th. They set an “overweight” rating and a $80.00 price target on the stock. Loop Capital raised their target price on shares of Shopify from $68.00 to $80.00 and gave the company a “hold” rating in a report on Friday, August 16th. Moffett Nathanson cut shares of Shopify from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $74.00 to $65.00 in a report on Thursday, June 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Shopify in a research report on Monday, September 23rd. Finally, Barclays increased their target price on Shopify from $63.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.92.

About Shopify

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.