Swiss National Bank raised its position in Shopify Inc. (NYSE:SHOP) (TSE:SH) by 186.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 307,400 shares of the software maker’s stock after buying an additional 200,100 shares during the quarter. Swiss National Bank owned about 0.31% of Shopify worth $26,695,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Nadler Financial Group Inc. increased its stake in Shopify by 0.9% in the 2nd quarter. Nadler Financial Group Inc. now owns 3,033 shares of the software maker’s stock valued at $264,000 after buying an additional 28 shares during the period. Tocqueville Asset Management L.P. increased its stake in Shopify by 2.1% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 19,200 shares of the software maker’s stock valued at $1,668,000 after buying an additional 400 shares during the period. Janney Montgomery Scott LLC increased its stake in Shopify by 6.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 9,001 shares of the software maker’s stock valued at $782,000 after buying an additional 581 shares during the period. Toronto Dominion Bank increased its stake in Shopify by 148.1% in the 1st quarter. Toronto Dominion Bank now owns 1,630 shares of the software maker’s stock valued at $111,000 after buying an additional 973 shares during the period. Finally, BB&T Securities LLC increased its stake in Shopify by 12.1% in the 1st quarter. BB&T Securities LLC now owns 10,054 shares of the software maker’s stock valued at $684,000 after buying an additional 1,085 shares during the period. 53.78% of the stock is currently owned by institutional investors.

Shopify Inc. (NYSE:SHOP) opened at 113.61 on Friday. The firm has a 50-day moving average of $99.26 and a 200-day moving average of $84.68. Shopify Inc. has a 12-month low of $37.74 and a 12-month high of $114.88. The stock’s market capitalization is $11.20 billion.

Shopify (NYSE:SHOP) (TSE:SH) last released its earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. The firm had revenue of $151.70 million for the quarter, compared to analyst estimates of $143.94 million. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. Shopify’s revenue was up 75.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. Equities research analysts forecast that Shopify Inc. will post ($0.05) earnings per share for the current fiscal year.

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Several equities analysts have issued reports on the stock. Vetr cut shares of Shopify from a “strong-buy” rating to a “buy” rating and set a $101.99 price objective on the stock. in a research note on Thursday, June 22nd. Credit Suisse Group reissued an “outperform” rating and issued a $95.00 price objective on shares of Shopify in a research note on Tuesday, May 23rd. BidaskClub cut shares of Shopify from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. KeyCorp reissued an “overweight” rating on shares of Shopify in a research note on Wednesday, August 2nd. Finally, CSFB reissued an “outperform” rating and issued a $128.00 price objective on shares of Shopify in a research note on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $91.81.

Shopify Company Profile

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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