Wellington Shields Capital Management LLC boosted its position in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 50.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,000 shares of the software maker’s stock after buying an additional 1,000 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Shopify were worth $493,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. WCM Investment Management CA increased its holdings in Shopify by 7.6% during the 3rd quarter. WCM Investment Management CA now owns 6,241,877 shares of the software maker’s stock worth $1,026,540,000 after purchasing an additional 439,208 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Shopify by 21.4% during the 2nd quarter. Baillie Gifford & Co. now owns 1,682,123 shares of the software maker’s stock worth $245,405,000 after purchasing an additional 296,872 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Shopify by 23.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,091,315 shares of the software maker’s stock worth $159,045,000 after purchasing an additional 206,325 shares in the last quarter. Zevenbergen Capital Investments LLC increased its holdings in Shopify by 5.2% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 961,925 shares of the software maker’s stock worth $140,336,000 after purchasing an additional 47,855 shares in the last quarter. Finally, Scge Management L.P. increased its holdings in Shopify by 7.2% during the 2nd quarter. Scge Management L.P. now owns 793,420 shares of the software maker’s stock worth $115,752,000 after purchasing an additional 53,000 shares in the last quarter. 60.59% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have issued reports on the company. Barclays increased their target price on Shopify from $125.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, July 23rd. They noted that the move was a valuation call. Jefferies Financial Group assumed coverage on Shopify in a report on Monday, October 1st. They set a “hold” rating and a $175.00 target price for the company. Macquarie set a $185.00 target price on Shopify and gave the stock a “buy” rating in a report on Friday, October 26th. Piper Jaffray Companies cut Shopify from an “overweight” rating to a “neutral” rating and set a $145.00 target price for the company. in a report on Tuesday, July 31st. Finally, Roth Capital increased their target price on Shopify from $165.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $166.59.

Shares of NYSE SHOP opened at $140.90 on Friday. The company has a current ratio of 11.82, a quick ratio of 11.82 and a debt-to-equity ratio of 0.01. Shopify Inc has a fifty-two week low of $92.41 and a fifty-two week high of $176.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Thursday, October 25th. The software maker reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.34. The company had revenue of $270.06 million during the quarter, compared to analysts’ expectations of $257.17 million. Shopify had a negative return on equity of 4.26% and a negative net margin of 6.93%. As a group, research analysts predict that Shopify Inc will post -0.63 EPS for the current year.

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Shopify Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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