Kesler Norman & Wride LLC Has $764,000 Holdings in Shopify Inc. (NYSE:SHOP)

Kesler Norman & Wride LLC lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,538 shares of the software maker’s stock after acquiring an additional 180 shares during the period. Kesler Norman & Wride LLC’s holdings in Shopify were worth $764,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Norden Group LLC acquired a new stake in Shopify during the first quarter worth about $3,618,000. Silvercrest Asset Management Group LLC grew its stake in Shopify by 735.0% during the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after buying an additional 46,589 shares in the last quarter. DekaBank Deutsche Girozentrale grew 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 in the last quarter. FIL Ltd grew its stake in Shopify by 1.8% during the fourth quarter. FIL Ltd now owns 13,303,001 shares of the software maker’s stock worth $1,035,688,000 after buying an additional 238,596 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Shopify by 1.7% during the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after buying an additional 713,064 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP stock opened at $82.58 on Wednesday. The company has a market cap of $106.42 billion, a price-to-earnings ratio of -485.76, a price-to-earnings-growth ratio of 2.65 and a beta of 2.36. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $72.21 and a 200-day moving average of $68.52.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data 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 company had revenue of $2.05 billion during 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 company’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) EPS. On average, equities analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SHOP. Evercore increased their price objective on shares of Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. Benchmark reiterated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. KeyCorp started coverage on shares of Shopify in a report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 target price for the company. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Morgan Stanley increased their target price on shares of Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. One equities research 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 issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.38.

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.