Shopify Inc. (NYSE:SHOP) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC boosted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 59.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,850 shares of the software maker’s stock after buying an additional 14,095 shares during the period. Ieq Capital LLC’s holdings in Shopify were worth $2,500,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. DSM Capital Partners LLC bought a new position in Shopify in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new position in shares of Shopify in the fourth quarter worth $28,000. Cultivar Capital Inc. acquired a new stake in Shopify in the second quarter worth about $33,000. Hazlett Burt & Watson Inc. acquired a new stake in Shopify in the second quarter worth about $33,000. Finally, OLD Point Trust & Financial Services N A bought a new position in Shopify in the 4th quarter valued at about $39,000. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SHOP shares. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target for the company in a research note on Tuesday, September 17th. Bank of America upgraded Shopify from a “neutral” rating to a “buy” rating and upped their target price for the stock from $78.00 to $82.00 in a research report on Tuesday, July 16th. Barclays lifted their price target on Shopify from $63.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Cantor Fitzgerald began coverage on Shopify in a report on Thursday, September 5th. They issued a “neutral” rating and a $70.00 price objective for the company. Finally, DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.92.

Shopify Price Performance

Shares of SHOP opened at $78.72 on Friday. The firm has a market cap of $101.45 billion, a PE ratio of -463.06, a PEG ratio of 2.47 and a beta of 2.35. The firm’s 50 day moving average price is $68.41 and its 200 day moving average price is $68.38. 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 Inc. has a twelve month low of $45.50 and a twelve month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) earnings per share. As a group, research analysts expect that Shopify Inc. will post 0.76 EPS for the current fiscal 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.