Skandinaviska Enskilda Banken AB publ Has $10.71 Million Holdings in Shopify Inc. (NYSE:SHOP)

Skandinaviska Enskilda Banken AB publ boosted its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,073 shares of the software maker’s stock after acquiring an additional 4,916 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Shopify were worth $10,705,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tradition Wealth Management LLC lifted its position in shares of Shopify by 7.5% in the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock worth $156,000 after purchasing an additional 140 shares in the last quarter. Willis Johnson & Associates Inc. boosted its stake in shares of Shopify by 5.8% during the 1st quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock worth $211,000 after buying an additional 149 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in shares of Shopify by 3.2% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 4,839 shares of the software maker’s stock worth $377,000 after buying an additional 150 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of Shopify by 11.4% in the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock valued at $114,000 after acquiring an additional 152 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its holdings in Shopify by 4.0% during the first quarter. Checchi Capital Advisers LLC now owns 4,178 shares of the software maker’s stock worth $322,000 after acquiring an additional 162 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SHOP shares. Argus upgraded Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. KeyCorp began coverage on shares of Shopify in a research report on Thursday, July 25th. They set an “overweight” rating and a $80.00 price target on the stock. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Barclays upped their target price on shares of Shopify from $63.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Finally, Loop Capital lifted their price target on Shopify from $68.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, August 16th. One 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 given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.92.

Shopify Stock Up 0.1 %

NYSE SHOP opened at $78.72 on Friday. The business has a fifty day moving average price of $68.41 and a two-hundred day moving average price of $68.38. The stock has a market capitalization of $101.45 billion, a PE ratio of -463.06, a PEG ratio of 2.47 and a beta of 2.35. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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 during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the company earned ($0.08) EPS. Shopify’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities analysts expect that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

About Shopify

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.