Blair William & Co. IL Has $24.62 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Blair William & Co. IL grew its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 372,809 shares of the software maker’s stock after purchasing an additional 1,074 shares during the quarter. Blair William & Co. IL’s holdings in Shopify were worth $24,624,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SHOP. Dimensional Fund Advisors LP raised its position in shares of Shopify by 9.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 469,529 shares of the software maker’s stock worth $36,576,000 after acquiring an additional 41,205 shares during the last quarter. Level Four Advisory Services LLC bought a new position in shares of Shopify during the fourth quarter worth about $262,000. Coldstream Capital Management Inc. bought a new position in shares of Shopify during the fourth quarter worth about $251,000. Balentine LLC bought a new position in shares of Shopify during the fourth quarter worth about $265,000. Finally, Corient Private Wealth LLC raised its position in shares of Shopify by 6.1% during the fourth quarter. Corient Private Wealth LLC now owns 82,347 shares of the software maker’s stock worth $6,415,000 after acquiring an additional 4,731 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Up 1.0 %

Shares of NYSE:SHOP opened at $75.23 on Thursday. The business’s 50 day moving average is $67.86 and its 200 day moving average is $68.32. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The stock has a market cap of $96.95 billion, a price-to-earnings ratio of -442.53, a PEG ratio of 2.39 and a beta of 2.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The business’s revenue was up 20.7% on a year-over-year basis. On average, sell-side analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SHOP shares. Citigroup lowered their price objective on Shopify from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their target price on Shopify from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Bank of America upgraded Shopify from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $78.00 to $82.00 in a report on Tuesday, July 16th. Argus upgraded Shopify to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Evercore lifted their target price on Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.