DRW Securities LLC Makes New $301,000 Investment in Shopify Inc. (NYSE:SHOP)

DRW Securities LLC acquired a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,559 shares of the software maker’s stock, valued at approximately $301,000.

Several other large investors have also recently made changes to their positions in SHOP. EverSource Wealth Advisors LLC raised its stake in shares of Shopify by 23.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,020 shares of the software maker’s stock valued at $185,000 after buying an additional 581 shares during the period. Circle Wealth Management LLC raised its stake in Shopify by 314.5% in the 2nd quarter. Circle Wealth Management LLC now owns 20,091 shares of the software maker’s stock valued at $1,327,000 after acquiring an additional 15,244 shares during the period. Evolutionary Tree Capital Management LLC raised its stake in Shopify by 31.4% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 41,993 shares of the software maker’s stock valued at $2,774,000 after acquiring an additional 10,028 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Shopify by 38.2% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 469,075 shares of the software maker’s stock valued at $30,982,000 after purchasing an additional 129,699 shares during the last quarter. Finally, Legacy Financial Advisors Inc. boosted its position in Shopify by 14.8% during the second quarter. Legacy Financial Advisors Inc. now owns 10,288 shares of the software maker’s stock worth $680,000 after purchasing an additional 1,324 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 1.8 %

Shares of NYSE:SHOP opened at $80.11 on Tuesday. Shopify Inc. has a 12-month low of $45.50 and a 12-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. The stock’s 50-day moving average price is $68.72 and its 200-day moving average price is $68.37. The stock has a market capitalization of $103.24 billion, a P/E ratio of -471.24, a price-to-earnings-growth ratio of 2.47 and a beta of 2.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) EPS. On average, equities analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on SHOP. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. The Goldman Sachs Group lifted their price objective on shares of Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 target price on shares of Shopify in a research report on Monday. Evercore ISI lifted their price target on Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Wedbush reissued a “neutral” rating and set a $72.00 price objective (up previously from $68.00) on shares of Shopify in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.92.

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.