Ensign Peak Advisors Inc Sells 541,884 Shares of Shopify Inc. (NYSE:SHOP)

Ensign Peak Advisors Inc lessened its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 33.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,093,658 shares of the software maker’s stock after selling 541,884 shares during the quarter. Ensign Peak Advisors Inc owned about 0.08% of Shopify worth $72,435,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Norden Group LLC bought a new position in Shopify in the 1st quarter worth $3,618,000. Silvercrest Asset Management Group LLC increased its stake 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 purchasing an additional 46,589 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Shopify by 5.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock worth $40,838,000 after purchasing an additional 28,639 shares during the last quarter. FIL Ltd boosted its stake in Shopify by 1.8% during the 4th quarter. FIL Ltd now owns 13,303,001 shares of the software maker’s stock valued at $1,035,688,000 after purchasing an additional 238,596 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Shopify by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $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.

Shopify Stock Up 0.1 %

NYSE SHOP opened at $78.72 on Friday. The stock has a market capitalization of $101.45 billion, a P/E ratio of -463.06, a price-to-earnings-growth ratio of 2.47 and a beta of 2.35. Shopify Inc. has a 52 week low of $45.50 and a 52 week 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 stock has a fifty day moving average of $68.41 and a 200-day moving average of $68.38.

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 analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $2.05 billion during 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 company’s revenue was up 20.7% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share. On average, equities research analysts forecast that Shopify Inc. will post 0.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Roth Mkm upped their price target on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. KeyCorp began coverage on shares of Shopify in a research note on Thursday, July 25th. They set an “overweight” rating and a $80.00 target price for the company. Wolfe Research began coverage on shares of Shopify in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 price target on the stock. Loop Capital boosted their price objective on shares of Shopify from $68.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average target price of $77.92.

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.