Brighton Jones LLC Has $2.01 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Brighton Jones LLC lessened its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 11.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,468 shares of the software maker’s stock after selling 3,918 shares during the period. Brighton Jones LLC’s holdings in Shopify were worth $2,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norden Group LLC acquired a new stake in shares of Shopify in the first quarter worth about $3,618,000. Silvercrest Asset Management Group LLC lifted its position in shares of Shopify by 735.0% in 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 during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Shopify by 5.8% in 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 last quarter. FIL Ltd lifted its position in shares of Shopify by 1.8% in 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 during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Shopify by 1.7% in 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 during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Redburn Atlantic raised Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target for the company in a research report on Tuesday. Roth Mkm lifted their price objective on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, Moffett Nathanson lowered Shopify from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $74.00 to $65.00 in a research note on Thursday, June 6th. One 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.92.

Shopify Stock Up 0.0 %

Shares of SHOP opened at $78.71 on Friday. The firm has a market capitalization of $101.43 billion, a price-to-earnings ratio of -463.00, a PEG ratio of 2.47 and a beta of 2.35. 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 fifty day moving average price is $68.41 and its two-hundred day moving average price is $68.41. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57.

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, beating 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 quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. On average, analysts predict that Shopify Inc. will post 0.76 earnings per share for the current 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.