Brucke Financial Inc. Decreases Stock Holdings in Shopify Inc. $SHOP

Brucke Financial Inc. reduced its holdings in shares of Shopify Inc. (NASDAQ:SHOPFree Report) (TSE:SHOP) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,010 shares of the software maker’s stock after selling 126 shares during the period. Brucke Financial Inc.’s holdings in Shopify were worth $693,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Shopify by 171.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock worth $48,827,000 after purchasing an additional 267,271 shares in the last quarter. Worth Asset Management LLC purchased a new stake in shares of Shopify in the second quarter worth $236,000. Avior Wealth Management LLC increased its stake in shares of Shopify by 32.6% in the second quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker’s stock worth $1,570,000 after purchasing an additional 3,347 shares in the last quarter. 111 Capital bought a new position in shares of Shopify during the second quarter worth $1,719,000. Finally, Integrity Alliance LLC. bought a new position in shares of Shopify during the first quarter worth $211,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SHOP shares. TD Cowen restated a “hold” rating and set a $156.00 target price on shares of Shopify in a research report on Friday, October 3rd. Citigroup upped their target price on shares of Shopify from $155.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Barclays upped their target price on shares of Shopify from $94.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Mizuho upped their target price on shares of Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, Needham & Company LLC started coverage on shares of Shopify in a research report on Monday, July 14th. They set a “buy” rating and a $135.00 target price for the company. Twenty-two equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Shopify has a consensus rating of “Hold” and a consensus target price of $151.95.

View Our Latest Stock Report on SHOP

Shopify Trading Down 7.8%

Shopify stock opened at $151.02 on Friday. The firm has a 50-day moving average price of $146.61 and a 200-day moving average price of $119.06. The firm has a market capitalization of $196.27 billion, a PE ratio of 84.37, a price-to-earnings-growth ratio of 7.67 and a beta of 2.72. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $169.69.

Shopify (NASDAQ:SHOPGet Free Report) (TSE:SHOP) last released its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.55 billion. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The business’s revenue was up 31.1% on a year-over-year basis. During the same quarter last year, the business earned $0.26 EPS. As a group, sell-side analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Shopify Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Shopify (NASDAQ:SHOP)

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