Shopify Inc (NYSE:SHOP) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC grew its position in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 3.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 19,723 shares of the software maker’s stock after acquiring an additional 614 shares during the quarter. SG Americas Securities LLC’s holdings in Shopify were worth $6,147,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOP. UBS Asset Management Americas Inc. lifted its position in Shopify by 0.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,190 shares of the software maker’s stock worth $1,258,000 after acquiring an additional 30 shares in the last quarter. Founders Financial Securities LLC lifted its position in Shopify by 1.2% during the 2nd quarter. Founders Financial Securities LLC now owns 3,509 shares of the software maker’s stock worth $1,053,000 after acquiring an additional 43 shares in the last quarter. Ropes Wealth Advisors LLC lifted its position in Shopify by 41.0% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 148 shares of the software maker’s stock worth $44,000 after acquiring an additional 43 shares in the last quarter. Nadler Financial Group Inc. lifted its position in Shopify by 1.2% during the 2nd quarter. Nadler Financial Group Inc. now owns 3,985 shares of the software maker’s stock worth $1,196,000 after acquiring an additional 46 shares in the last quarter. Finally, Truewealth LLC lifted its position in Shopify by 16.0% during the 3rd quarter. Truewealth LLC now owns 348 shares of the software maker’s stock worth $108,000 after acquiring an additional 48 shares in the last quarter. 58.19% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently commented on the company. CIBC set a $350.00 price target on Shopify and gave the stock a “hold” rating in a research report on Tuesday, October 8th. Pi Financial initiated coverage on Shopify in a report on Thursday, October 10th. They issued a “buy” rating and a $492.00 price target for the company. William Blair reiterated a “hold” rating on shares of Shopify in a report on Tuesday, September 10th. Zacks Investment Research downgraded Shopify from a “hold” rating to a “sell” rating and set a $379.00 price target for the company. in a report on Friday, August 9th. Finally, Jefferies Financial Group set a $300.00 price objective on Shopify and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $341.30.

Shares of NYSE:SHOP traded up $11.89 on Friday, hitting $297.64. The company’s stock had a trading volume of 2,462,730 shares, compared to its average volume of 1,956,232. Shopify Inc has a 12 month low of $117.64 and a 12 month high of $409.61. The company has a market capitalization of $33.68 billion, a price-to-earnings ratio of -487.93 and a beta of 1.18. The stock’s 50-day moving average is $315.54 and its two-hundred day moving average is $314.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.21 and a current ratio of 11.21.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, October 29th. The software maker reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.08. Shopify had a negative return on equity of 3.36% and a negative net margin of 8.97%. The company had revenue of $390.55 million during the quarter, compared to analysts’ expectations of $384.05 million. Equities analysts expect that Shopify Inc will post -0.84 earnings per share for the current fiscal 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.

Further Reading: What does an outperform rating mean?

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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