LifePlan Financial Group Inc lessened its position in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 44.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 28 shares of the software maker’s stock after selling 22 shares during the period. LifePlan Financial Group Inc’s holdings in Shopify were worth $27,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. New Capital Management LP boosted its position in shares of Shopify by 180.0% in the second quarter. New Capital Management LP now owns 28 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Lenox Wealth Advisors LLC lifted its position in Shopify by 277.8% during the second quarter. Lenox Wealth Advisors LLC now owns 34 shares of the software maker’s stock valued at $32,000 after buying an additional 25 shares in the last quarter. Squar Milner Financial Services LLC lifted its position in Shopify by 102.5% during the first quarter. Squar Milner Financial Services LLC now owns 81 shares of the software maker’s stock valued at $33,000 after buying an additional 41 shares in the last quarter. Key Financial Inc acquired a new position in Shopify during the first quarter valued at approximately $34,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in Shopify by 516.7% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 37 shares of the software maker’s stock valued at $35,000 after buying an additional 31 shares in the last quarter. Institutional investors own 60.17% of the company’s stock.

A number of research analysts have weighed in on SHOP shares. Roth Capital lifted their price target on shares of Shopify from $800.00 to $850.00 in a research report on Thursday. Wells Fargo & Co lifted their price target on shares of Shopify from $700.00 to $1,000.00 and gave the company a “hold” rating in a research report on Thursday. Loop Capital lifted their price target on shares of Shopify from $350.00 to $700.00 and gave the company a “hold” rating in a research report on Thursday, May 7th. Royal Bank of Canada lifted their price target on shares of Shopify from $1,000.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Bank of America reissued a “sell” rating and set a $900.00 target price on shares of Shopify in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $927.71.

SHOP stock traded down $24.84 during trading on Friday, hitting $1,024.00. 2,335,705 shares of the company’s stock traded hands, compared to its average volume of 2,893,114. Shopify Inc has a 52 week low of $282.08 and a 52 week high of $1,107.92. The stock has a fifty day moving average price of $935.14 and a two-hundred day moving average price of $641.42. The stock has a market capitalization of $120.07 billion, a price-to-earnings ratio of -1,678.66 and a beta of 1.61.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, July 29th. The software maker reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $1.04. Shopify had a negative net margin of 3.25% and a positive return on equity of 0.32%. The company had revenue of $714.34 million during the quarter, compared to the consensus estimate of $511.56 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 97.3% compared to the same quarter last year. As a group, equities analysts forecast that Shopify Inc will post -1.56 earnings per share for the current fiscal year.

Shopify 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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