Shopify Inc. (NYSE:SHOP) Shares Purchased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC boosted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,858 shares of the software maker’s stock after acquiring an additional 218 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Shopify were worth $2,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Tradition Wealth Management LLC lifted its holdings in shares of Shopify by 7.5% in the 4th quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock valued at $156,000 after buying an additional 140 shares during the period. Willis Johnson & Associates Inc. boosted its holdings in shares of Shopify by 5.8% during the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock worth $211,000 after purchasing an additional 149 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in Shopify by 3.2% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 4,839 shares of the software maker’s stock valued at $377,000 after acquiring an additional 150 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in Shopify by 11.4% in the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock valued at $114,000 after acquiring an additional 152 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its holdings in Shopify by 4.0% in the first quarter. Checchi Capital Advisers LLC now owns 4,178 shares of the software maker’s stock valued at $322,000 after acquiring an additional 162 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 target price on shares of Shopify in a research report on Tuesday, September 10th. Wolfe Research started coverage on Shopify in a report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 target price for the company. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upped their target price on Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, KeyCorp assumed coverage on Shopify in a report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price target on the stock. One equities 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 data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $77.92.

Shopify Stock Performance

Shares of SHOP stock opened at $78.71 on Friday. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company’s 50-day moving average is $68.41 and its 200 day moving average is $68.41. The company has a market capitalization of $101.43 billion, a price-to-earnings ratio of -463.00, a price-to-earnings-growth ratio of 2.47 and a beta of 2.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share 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 analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the business earned ($0.08) EPS. The business’s quarterly revenue was up 20.7% on a year-over-year basis. Sell-side analysts expect that Shopify Inc. will post 0.76 EPS for the current fiscal year.

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.