Signaturefd LLC Has $3.23 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Signaturefd LLC lowered its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,892 shares of the software maker’s stock after selling 689 shares during the quarter. Signaturefd LLC’s holdings in Shopify were worth $3,229,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SHOP. Yousif Capital Management LLC increased its stake in shares of Shopify by 21.3% during the 4th quarter. Yousif Capital Management LLC now owns 21,095 shares of the software maker’s stock worth $1,643,000 after purchasing an additional 3,700 shares during the last quarter. Choreo LLC increased its position in Shopify by 9.7% during the fourth quarter. Choreo LLC now owns 10,096 shares of the software maker’s stock worth $786,000 after buying an additional 895 shares during the last quarter. Certuity LLC raised its stake in Shopify by 4.0% in the fourth quarter. Certuity LLC now owns 20,062 shares of the software maker’s stock valued at $1,564,000 after buying an additional 763 shares during the period. MONECO Advisors LLC acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $206,000. Finally, Alpha Cubed Investments LLC lifted its position in shares of Shopify by 8.1% in the fourth quarter. Alpha Cubed Investments LLC now owns 136,672 shares of the software maker’s stock valued at $10,647,000 after buying an additional 10,278 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 1.1 %

Shares of SHOP traded up $0.78 during trading hours on Friday, reaching $74.05. 3,018,899 shares of the stock traded hands, compared to its average volume of 10,078,813. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a market cap of $95.43 billion, a price-to-earnings ratio of -435.71, a PEG ratio of 2.50 and a beta of 2.30. The stock has a fifty day simple moving average of $66.29 and a 200 day simple moving average of $69.10. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) EPS. On average, equities analysts forecast that Shopify Inc. will post 0.76 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on SHOP. JMP Securities restated a “market outperform” rating and issued a $80.00 price target on shares of Shopify in a research note on Thursday, August 8th. Wedbush reissued a “neutral” rating and issued a $72.00 price objective (up from $68.00) on shares of Shopify in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shopify in a report on Thursday, May 9th. DA Davidson lowered their price target on shares of Shopify from $90.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Argus upgraded Shopify to a “strong-buy” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $77.30.

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.