Investors Buy High Volume of Shopify Put Options (SHOP)
Shopify Inc. (NYSE:SHOP) (TSE:SH) was the target of unusually large options trading activity on Wednesday. Stock traders bought 5,199 put options on the stock. This represents an increase of approximately 129% compared to the typical volume of 2,271 put options.
Several equities analysts have recently commented on the stock. Vetr lowered shares of Shopify from a “strong-buy” rating to a “buy” rating and set a $101.99 price target for the company. in a research report on Thursday, June 22nd. Credit Suisse Group restated an “outperform” rating and set a $95.00 price target on shares of Shopify in a research report on Tuesday, May 23rd. BidaskClub lowered shares of Shopify from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. KeyCorp restated an “overweight” rating on shares of Shopify in a research report on Wednesday, August 2nd. Finally, CSFB restated an “outperform” rating and set a $128.00 price target on shares of Shopify in a research report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $90.93.
Shares of Shopify (NYSE:SHOP) opened at 110.86 on Friday. Shopify has a 12-month low of $37.74 and a 12-month high of $112.00. The firm’s 50-day moving average price is $96.81 and its 200 day moving average price is $83.19. The firm’s market cap is $10.93 billion.
Shopify (NYSE:SHOP) (TSE:SH) last released its quarterly earnings data on Tuesday, August 1st. The software maker reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. The business had revenue of $151.70 million for the quarter, compared to analysts’ expectations of $143.94 million. During the same quarter in the previous year, the business posted ($0.04) EPS. Shopify’s revenue for the quarter was up 75.2% on a year-over-year basis. On average, equities analysts expect that Shopify will post ($0.05) earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP acquired a new position in Shopify during the first quarter valued at $102,000. Toronto Dominion Bank boosted its position in Shopify by 148.1% in the first quarter. Toronto Dominion Bank now owns 1,630 shares of the software maker’s stock valued at $111,000 after buying an additional 973 shares during the period. SG Americas Securities LLC acquired a new position in Shopify during the first quarter valued at $116,000. Seven Bridges Advisors LLC acquired a new position in Shopify during the second quarter valued at $120,000. Finally, Advisory Services Network LLC boosted its position in Shopify by 26.6% in the second quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock valued at $123,000 after buying an additional 298 shares during the period. Institutional investors and hedge funds own 53.78% of the company’s stock.
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Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
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