J. Safra Sarasin Holding AG Buys 716 Shares of Shopify Inc. $SHOP

J. Safra Sarasin Holding AG raised its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 30.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,098 shares of the software maker’s stock after acquiring an additional 716 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Shopify were worth $357,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Shopify by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker’s stock valued at $4,563,106,000 after acquiring an additional 882,168 shares during the period. Mackenzie Financial Corp raised its holdings in Shopify by 19.7% in the 1st quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock valued at $822,745,000 after acquiring an additional 1,426,406 shares during the period. Nuveen LLC acquired a new position in shares of Shopify during the 1st quarter worth approximately $667,392,000. Canada Pension Plan Investment Board grew its position in shares of Shopify by 34.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock worth $565,504,000 after purchasing an additional 1,522,573 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Shopify by 21.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker’s stock worth $539,382,000 after purchasing an additional 979,598 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Arete restated a “neutral” rating on shares of Shopify in a research report on Wednesday, July 23rd. Arete Research upgraded shares of Shopify to a “hold” rating in a research report on Wednesday, July 23rd. ATB Capital lowered shares of Shopify to a “sector perform” rating in a research report on Thursday, August 7th. TD Cowen restated a “hold” rating and set a $156.00 target price on shares of Shopify in a research report on Friday. Finally, Royal Bank Of Canada increased their target price on shares of Shopify from $145.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Twenty-two analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $150.59.

Shopify Stock Performance

SHOP stock opened at $161.14 on Friday. The company has a fifty day moving average price of $142.78 and a 200-day moving average price of $117.23. The company has a market capitalization of $209.43 billion, a P/E ratio of 90.02, a PEG ratio of 7.64 and a beta of 2.72. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $162.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (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 net margin of 23.42% and a return on equity of 12.30%. The company’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 earnings per share. As a group, sell-side analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.