Sumitomo Mitsui Trust Holdings Inc. raised its position in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 7.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 720,347 shares of the software maker’s stock after purchasing an additional 52,719 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.68% of Shopify worth $118,368,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Global X Management Co LLC acquired a new position in shares of Shopify during the second quarter valued at approximately $483,000. Prio Wealth Limited Partnership bought a new stake in Shopify during the second quarter worth approximately $218,000. Toronto Dominion Bank boosted its holdings in Shopify by 100.7% during the second quarter. Toronto Dominion Bank now owns 105,888 shares of the software maker’s stock worth $15,180,000 after buying an additional 53,119 shares in the last quarter. Intl Fcstone Inc. boosted its holdings in Shopify by 22.5% during the third quarter. Intl Fcstone Inc. now owns 2,591 shares of the software maker’s stock worth $426,000 after buying an additional 476 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Shopify during the second quarter worth approximately $36,506,000. Institutional investors own 61.54% of the company’s stock.

Shopify stock opened at $142.76 on Thursday. Shopify Inc has a 52 week low of $92.41 and a 52 week high of $176.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.82 and a quick ratio of 11.82. The company has a market capitalization of $14.42 billion, a P/E ratio of -339.90 and a beta of 1.40.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Thursday, October 25th. The software maker reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.34. Shopify had a negative net margin of 6.93% and a negative return on equity of 4.26%. The firm had revenue of $270.06 million during the quarter, compared to analyst estimates of $257.17 million. Equities analysts forecast that Shopify Inc will post -0.63 EPS for the current year.

A number of brokerages recently weighed in on SHOP. Royal Bank of Canada raised their target price on shares of Shopify from $157.00 to $159.00 and gave the stock a “sector perform” rating in a report on Saturday, October 27th. Macquarie set a $185.00 target price on shares of Shopify and gave the stock a “buy” rating in a report on Friday, October 26th. Rosenblatt Securities set a $190.00 target price on shares of Shopify and gave the stock a “buy” rating in a report on Friday, October 26th. Jefferies Financial Group began coverage on shares of Shopify in a report on Monday, October 1st. They set a “hold” rating and a $175.00 target price for the company. Finally, Wedbush began coverage on shares of Shopify in a report on Thursday, September 13th. They set an “outperform” rating and a $177.00 target price for the company. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Shopify presently has a consensus rating of “Buy” and an average target price of $166.59.

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Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, 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.

See Also: Stock Symbol

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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