Shopify Inc. $SHOP Shares Purchased by Seros Financial LLC

Seros Financial LLC raised its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 21.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,781 shares of the software maker’s stock after acquiring an additional 500 shares during the quarter. Seros Financial LLC’s holdings in Shopify were worth $321,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. River Street Advisors LLC boosted its position in shares of Shopify by 1.6% during the 2nd quarter. River Street Advisors LLC now owns 8,349 shares of the software maker’s stock worth $963,000 after acquiring an additional 132 shares in the last quarter. Hilltop National Bank acquired a new position in shares of Shopify during the 2nd quarter worth about $117,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Shopify by 171.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock worth $48,827,000 after acquiring an additional 267,271 shares in the last quarter. J. Safra Sarasin Holding AG boosted its position in shares of Shopify by 30.1% during the 2nd quarter. J. Safra Sarasin Holding AG now owns 3,098 shares of the software maker’s stock worth $357,000 after acquiring an additional 716 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. boosted its position in shares of Shopify by 3.5% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 26,919 shares of the software maker’s stock worth $3,098,000 after acquiring an additional 900 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Up 1.2%

SHOP opened at $151.30 on Friday. The business has a 50 day moving average price of $142.04 and a two-hundred day moving average price of $116.66. The company has a market cap of $196.64 billion, a PE ratio of 84.53, a P/E/G ratio of 7.09 and a beta of 2.72. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $159.01.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm’s revenue was up 31.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 EPS. As a group, sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SHOP shares. Zacks Research raised Shopify to a “hold” rating in a research report on Tuesday, August 12th. Canaccord Genuity Group upped their price objective on Shopify from $115.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Arete reaffirmed a “neutral” rating on shares of Shopify in a research report on Wednesday, July 23rd. Stifel Nicolaus upped their target price on Shopify from $110.00 to $150.00 and gave the company a “hold” rating in a research report on Thursday, August 7th. Finally, ATB Capital cut Shopify to a “sector perform” rating in a research report on Thursday, August 7th. Twenty-three analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $150.83.

Shopify Company Profile

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.