Shopify Inc. (NYSE:SHOP) Stock Holdings Trimmed by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 488,756 shares of the software maker’s stock after selling 98,712 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Shopify were worth $32,283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SHOP. GQG Partners LLC raised its position in shares of Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after acquiring an additional 13,885,473 shares in the last quarter. Capital World Investors raised its holdings in shares of Shopify by 26.2% during the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Shopify by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after buying an additional 5,982,434 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Shopify by 214.5% in the 1st quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock valued at $224,492,000 after buying an additional 1,983,996 shares during the period. Finally, William Blair Investment Management LLC grew its position in shares of Shopify by 5,918.3% during the 1st quarter. William Blair Investment Management LLC now owns 1,930,003 shares of the software maker’s stock valued at $148,938,000 after buying an additional 1,897,934 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP opened at $78.47 on Wednesday. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. 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 firm has a market capitalization of $101.12 billion, a P/E ratio of -461.59, a PEG ratio of 2.65 and a beta of 2.35. The stock has a fifty day moving average of $70.57 and a 200-day moving average of $68.49.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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 firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the business earned ($0.08) EPS. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities analysts forecast that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SHOP shares. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price on the stock in a report on Tuesday, September 17th. Moffett Nathanson downgraded Shopify from a “buy” rating to a “neutral” rating and cut their price target for the stock from $74.00 to $65.00 in a report on Thursday, June 6th. Evercore ISI upped their price objective on Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 target price on shares of Shopify in a research note on Monday. Finally, Morgan Stanley upped their price target on shares of Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $78.38.

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.