Thoroughbred Financial Services LLC grew its holdings in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 1.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 5,214 shares of the software maker’s stock after acquiring an additional 82 shares during the period. Thoroughbred Financial Services LLC’s holdings in Shopify were worth $1,077,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Capital Financial Planning LLC bought a new position in Shopify during the fourth quarter worth $26,000. We Are One Seven LLC bought a new position in Shopify during the fourth quarter worth $27,000. Murphy Pohlad Asset Management LLC bought a new position in Shopify during the fourth quarter worth $27,000. Mackey Komara & Dankovich LLC bought a new position in Shopify during the fourth quarter worth $28,000. Finally, Optimum Investment Advisors bought a new position in Shopify during the fourth quarter worth $28,000. Institutional investors own 67.14% of the company’s stock.

Several equities research analysts have weighed in on the company. Roth Capital increased their target price on Shopify from $275.00 to $225.00 in a research report on Tuesday, April 30th. Robert W. Baird increased their target price on Shopify from $208.00 to $269.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. Zacks Investment Research lowered Shopify from a “buy” rating to a “hold” rating in a research report on Thursday. Macquarie increased their target price on Shopify to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 27th. Finally, Piper Jaffray Companies increased their target price on Shopify from $149.00 to $216.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $237.71.

Shares of SHOP traded up $23.48 during trading hours on Thursday, reaching $276.63. 1,712,645 shares of the company’s stock traded hands, compared to its average volume of 1,611,968. The firm has a market capitalization of $27.68 billion, a price-to-earnings ratio of -453.49 and a beta of 1.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 12.57 and a current ratio of 12.56. Shopify Inc has a twelve month low of $117.64 and a twelve month high of $266.72.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.44. The company had revenue of $320.50 million for the quarter, compared to analyst estimates of $310.11 million. Shopify had a negative return on equity of 3.74% and a negative net margin of 6.17%. The company’s quarterly revenue was up 49.6% compared to the same quarter last year. During the same period last year, the company earned $0.04 earnings per share. Analysts forecast that Shopify Inc will post -1 EPS for the current fiscal year.

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Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, 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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