Stephens Investment Management Group LLC Cuts Stake in Shopify Inc (NYSE:SHOP)

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Stephens Investment Management Group LLC reduced its stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 17.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 180,277 shares of the software maker’s stock after selling 38,755 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.17% of Shopify worth $26,420,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Shopify by 1.5% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 82,898 shares of the software maker’s stock worth $10,328,000 after buying an additional 1,197 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Shopify by 12.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 475,165 shares of the software maker’s stock worth $59,114,000 after buying an additional 51,016 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of Shopify during the first quarter worth approximately $2,737,000. Viridian Ria LLC acquired a new position in shares of Shopify during the first quarter worth approximately $719,000. Finally, Texas Yale Capital Corp. lifted its holdings in shares of Shopify by 8.6% during the first quarter. Texas Yale Capital Corp. now owns 12,556 shares of the software maker’s stock worth $1,564,000 after buying an additional 995 shares during the last quarter. Hedge funds and other institutional investors own 60.74% of the company’s stock.

Shares of SHOP stock traded down $0.73 during trading hours on Friday, hitting $154.77. 1,247,034 shares of the company’s stock were exchanged, compared to its average volume of 1,249,410. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.89 and a current ratio of 12.89. The stock has a market capitalization of $16.29 billion, a PE ratio of -368.50 and a beta of 1.17. Shopify Inc has a 52 week low of $89.35 and a 52 week high of $176.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, July 31st. The software maker reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.28) by $0.30. The company had revenue of $245.00 million for the quarter, compared to analysts’ expectations of $234.72 million. Shopify had a negative return on equity of 3.77% and a negative net margin of 6.12%. The business’s revenue for the quarter was up 61.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. analysts forecast that Shopify Inc will post -0.76 earnings per share for the current fiscal year.

A number of research analysts have recently commented on SHOP shares. Morgan Stanley set a $140.00 price target on Shopify and gave the stock a “hold” rating in a report on Tuesday, May 22nd. TheStreet upgraded Shopify from a “d+” rating to a “c” rating in a research note on Monday, May 21st. KeyCorp restated an “overweight” rating and issued a $182.00 target price (up from $170.00) on shares of Shopify in a research note on Tuesday, June 19th. Zacks Investment Research upgraded Shopify from a “hold” rating to a “buy” rating and set a $177.00 target price for the company in a research note on Tuesday, July 10th. Finally, Barclays upped their price target on Shopify from $125.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, July 23rd. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Shopify currently has a consensus rating of “Buy” and an average price target of $163.95.

Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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