Shopify Inc. (NYSE:SHOP) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 488,756 shares of the software maker’s stock after selling 98,712 shares during the period. Dimensional Fund Advisors LP’s holdings in Shopify were worth $32,283,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of SHOP. Jones Financial Companies Lllp acquired a new position in shares of Shopify during the 4th quarter worth approximately $28,000. Cultivar Capital Inc. acquired a new position in shares of Shopify in the second quarter worth $33,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Shopify in the second quarter valued at $33,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Shopify during the fourth quarter valued at $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Shopify during the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on SHOP shares. Evercore upped their target price on shares of Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Moffett Nathanson downgraded shares of Shopify from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $74.00 to $65.00 in a research note on Thursday, June 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $67.00 target price on shares of Shopify in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft boosted their price target on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Loop Capital lifted their price objective on Shopify from $68.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, August 16th. 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 issued a strong buy rating to the stock. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average price target of $78.38.

Shopify Trading Down 2.1 %

NYSE:SHOP opened at $78.47 on Wednesday. The stock has a market cap of $101.12 billion, a price-to-earnings ratio of -461.59, a price-to-earnings-growth ratio of 2.65 and a beta of 2.35. Shopify Inc. has a one year low of $45.50 and a one year 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. The business’s 50-day simple moving average is $70.57 and its 200 day simple moving average is $68.49.

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