Creative Planning Raises Stock Position in Shopify Inc. (NYSE:SHOP)

Creative Planning raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 45.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 376,040 shares of the software maker’s stock after purchasing an additional 117,593 shares during the quarter. Creative Planning’s holdings in Shopify were worth $24,837,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SHOP. Norden Group LLC acquired a new position in shares of Shopify in the 1st quarter valued at $3,618,000. Silvercrest Asset Management Group LLC lifted its position in Shopify by 735.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock valued at $4,084,000 after buying an additional 46,589 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Shopify by 5.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock worth $40,838,000 after buying an additional 28,639 shares during the period. FIL Ltd increased its position in shares of Shopify by 1.8% during the fourth quarter. FIL Ltd now owns 13,303,001 shares of the software maker’s stock valued at $1,035,688,000 after acquiring an additional 238,596 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Shopify by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after acquiring an additional 713,064 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of research analyst reports. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Tuesday, September 17th. Citigroup lowered their price target on Shopify from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Wells Fargo & Company raised their target price on Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Finally, DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average target price of $77.92.

Shopify Stock Down 1.9 %

Shares of NYSE:SHOP opened at $79.21 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The stock has a market cap of $102.08 billion, a P/E ratio of -465.94, a P/E/G ratio of 2.69 and a beta of 2.35. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The firm has a fifty day moving average price of $69.90 and a 200 day moving average price of $68.46.

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