Shopify Inc (NYSE:SHOP) Position Raised by Pictet Asset Management Ltd.

Share on StockTwits

Pictet Asset Management Ltd. raised its stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 127.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 35,308 shares of the software maker’s stock after buying an additional 19,800 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Shopify were worth $11,004,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. New Capital Management LP bought a new stake in Shopify in the third quarter valued at $31,000. Gs Investments Inc. lifted its stake in Shopify by 178.6% in the third quarter. Gs Investments Inc. now owns 117 shares of the software maker’s stock valued at $36,000 after buying an additional 75 shares during the last quarter. Aperio Group LLC bought a new stake in Shopify in the second quarter valued at $37,000. Advisors Preferred LLC bought a new stake in Shopify in the second quarter valued at $39,000. Finally, Ropes Wealth Advisors LLC lifted its stake in Shopify by 41.0% in the second quarter. Ropes Wealth Advisors LLC now owns 148 shares of the software maker’s stock valued at $44,000 after buying an additional 43 shares during the last quarter. Institutional investors own 58.43% of the company’s stock.

A number of equities research analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $400.00 target price on shares of Shopify in a research note on Monday, October 28th. Zacks Investment Research lowered Shopify from a “hold” rating to a “sell” rating and set a $379.00 price target on the stock. in a report on Friday, August 9th. Rosenblatt Securities reissued a “buy” rating and set a $481.00 price target on shares of Shopify in a report on Wednesday, October 30th. CIBC set a $350.00 price target on Shopify and gave the company a “hold” rating in a report on Tuesday, October 8th. Finally, National Bank Financial set a $400.00 price target on Shopify and gave the company a “buy” rating in a report on Tuesday, September 10th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $335.88.

Shares of SHOP opened at $330.84 on Tuesday. The business’s 50-day moving average price is $316.79 and its 200 day moving average price is $323.01. The stock has a market capitalization of $38.84 billion, a P/E ratio of -542.36 and a beta of 1.18. Shopify Inc has a 1-year low of $117.64 and a 1-year high of $409.61. The company has a current ratio of 11.21, a quick ratio of 11.21 and a debt-to-equity ratio of 0.04.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, October 29th. The software maker reported ($0.20) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.08. The firm had revenue of $390.55 million for the quarter, compared to analysts’ expectations of $384.05 million. Shopify had a negative return on equity of 3.36% and a negative net margin of 8.97%. On average, research analysts predict that Shopify Inc will post -1.18 earnings per share for the current year.

About Shopify

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, 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.

Recommended Story: How is the Producer Price Index calculated?

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.