11,000 Shares in Shopify Inc. (NYSE:SHOP) Acquired by K2 Principal Fund L.P.

K2 Principal Fund L.P. acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 11,000 shares of the software maker’s stock, valued at approximately $727,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. DSM Capital Partners LLC bought a new stake in Shopify in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp acquired a new position in shares of Shopify during the 4th quarter worth about $28,000. Cultivar Capital Inc. acquired a new position in Shopify during the second quarter worth approximately $33,000. Hazlett Burt & Watson Inc. bought a new stake in Shopify in the 2nd quarter valued at $33,000. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of Shopify during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $67.00 price objective on shares of Shopify in a report on Thursday, August 29th. Argus raised shares of Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. Redburn Atlantic upgraded Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Tuesday, September 17th. Morgan Stanley raised their price objective on Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.92.

Shopify Stock Up 1.8 %

Shares of Shopify stock opened at $80.11 on Tuesday. The company has a 50-day simple moving average of $68.72 and a two-hundred day simple moving average of $68.37. The stock has a market capitalization of $103.24 billion, a PE ratio of -471.24, a price-to-earnings-growth ratio of 2.47 and a beta of 2.35. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. 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 released its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. The business had revenue of $2.05 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) EPS. On average, analysts anticipate that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Shopify 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.