Advisor Group Inc. Acquires 5,516 Shares of Shopify Inc. (SHOP)
Advisor Group Inc. lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SH) by 153.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,102 shares of the software maker’s stock after purchasing an additional 5,516 shares during the period. Advisor Group Inc.’s holdings in Shopify were worth $792,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in SHOP. Coatue Management LLC bought a new stake in shares of Shopify in the 2nd quarter worth approximately $228,174,000. FMR LLC boosted its holdings in Shopify by 8.5% during the second quarter. FMR LLC now owns 12,560,797 shares of the software maker’s stock worth $1,090,644,000 after buying an additional 989,113 shares in the last quarter. Public Sector Pension investment Board bought a new stake in Shopify during the second quarter worth approximately $40,637,000. Franklin Resources Inc. boosted its holdings in Shopify by 1,871.5% during the second quarter. Franklin Resources Inc. now owns 398,250 shares of the software maker’s stock worth $34,607,000 after buying an additional 378,050 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in Shopify by 117.8% during the first quarter. Morgan Stanley now owns 643,902 shares of the software maker’s stock worth $43,843,000 after buying an additional 348,254 shares in the last quarter. 53.77% of the stock is currently owned by institutional investors.
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Shares of Shopify Inc. (NYSE:SHOP) opened at 119.00 on Tuesday. Shopify Inc. has a 1-year low of $37.74 and a 1-year high of $123.94. The firm has a 50-day moving average of $118.78 and a 200-day moving average of $118.78. The firm’s market capitalization is $11.73 billion.
Shopify (NYSE:SHOP) (TSE:SH) last announced its earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.05. The firm had revenue of $151.70 million during the quarter, compared to analyst estimates of $143.94 million. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The company’s revenue for the quarter was up 75.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) EPS. On average, equities research analysts anticipate that Shopify Inc. will post ($0.04) EPS for the current fiscal year.
SHOP has been the topic of several research reports. Vetr cut Shopify from a “strong-buy” rating to a “buy” rating and set a $101.99 price target on the stock. in a report on Thursday, June 22nd. BidaskClub lowered Shopify from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Macquarie raised their price objective on Shopify from $121.00 to $146.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 20th. Robert W. Baird restated an “outperform” rating on shares of Shopify in a report on Monday, July 3rd. Finally, Barclays PLC restated an “equal weight” rating and issued a $90.00 target price (up from $70.00) on shares of Shopify in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $94.84.
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.
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