Ropes Wealth Advisors LLC boosted its holdings in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 41.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 148 shares of the software maker’s stock after acquiring an additional 43 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Shopify were worth $44,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Founders Financial Securities LLC raised its position in Shopify by 1.2% during the second quarter. Founders Financial Securities LLC now owns 3,509 shares of the software maker’s stock valued at $1,053,000 after acquiring an additional 43 shares in the last quarter. Executive Wealth Management LLC raised its position in Shopify by 34.6% during the first quarter. Executive Wealth Management LLC now owns 175 shares of the software maker’s stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. Nadler Financial Group Inc. raised its position in Shopify by 1.2% during the second quarter. Nadler Financial Group Inc. now owns 3,985 shares of the software maker’s stock valued at $1,196,000 after acquiring an additional 46 shares in the last quarter. Welch & Forbes LLC raised its position in Shopify by 3.4% during the second quarter. Welch & Forbes LLC now owns 1,500 shares of the software maker’s stock valued at $450,000 after acquiring an additional 50 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its position in Shopify by 39.4% during the second quarter. Valeo Financial Advisors LLC now owns 191 shares of the software maker’s stock valued at $57,000 after acquiring an additional 54 shares in the last quarter. 65.72% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on the stock. Roth Capital set a $300.00 price objective on shares of Shopify and gave the company a “hold” rating in a research report on Sunday, July 21st. Zacks Investment Research lowered shares of Shopify from a “hold” rating to a “sell” rating and set a $379.00 price objective on the stock. in a research report on Friday, August 9th. Royal Bank of Canada raised their price objective on shares of Shopify to $400.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Morgan Stanley downgraded Shopify from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $173.00 to $209.00 in a report on Tuesday, May 14th. They noted that the move was a valuation call. Finally, CIBC downgraded Shopify from an “outperform” rating to a “neutral” rating and increased their price target for the company from $260.00 to $350.00 in a report on Thursday, June 20th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $327.00.

Shares of Shopify stock opened at $357.75 on Thursday. The business has a fifty day moving average of $326.99. The firm has a market capitalization of $40.91 billion, a P/E ratio of -586.48 and a beta of 1.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 11.44 and a current ratio of 11.44. Shopify Inc has a 1 year low of $117.64 and a 1 year high of $372.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.45. The business had revenue of $361.98 million for the quarter, compared to the consensus estimate of $350.59 million. Shopify had a negative net margin of 5.98% and a negative return on equity of 3.85%. Shopify’s quarterly revenue was up 47.8% on a year-over-year basis. During the same quarter last year, the company posted $0.02 earnings per share. On average, analysts anticipate that Shopify Inc will post -0.79 earnings per share for the current year.

About Shopify

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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