Banco Santander S.A. Raises Position in Shopify Inc. (NYSE:SHOP)

Banco Santander S.A. grew its position in Shopify Inc. (NYSE:SHOPGet Rating) (TSE:SHOP) by 159.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,368 shares of the software maker’s stock after acquiring an additional 7,600 shares during the period. Banco Santander S.A.’s holdings in Shopify were worth $8,361,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wealthsource Partners LLC lifted its stake in shares of Shopify by 12.9% in the first quarter. Wealthsource Partners LLC now owns 664 shares of the software maker’s stock valued at $449,000 after purchasing an additional 76 shares during the period. Andesa Financial Management Inc. acquired a new stake in shares of Shopify in the first quarter valued at about $226,000. Lincoln National Corp lifted its stake in shares of Shopify by 1.3% in the first quarter. Lincoln National Corp now owns 2,690 shares of the software maker’s stock valued at $1,819,000 after purchasing an additional 35 shares during the period. Brown Advisory Inc. lifted its stake in shares of Shopify by 6.8% in the first quarter. Brown Advisory Inc. now owns 581,823 shares of the software maker’s stock valued at $445,284,000 after purchasing an additional 37,044 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Shopify by 16.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,799 shares of the software maker’s stock valued at $8,652,000 after purchasing an additional 1,824 shares during the period. Hedge funds and other institutional investors own 62.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of research reports. Roth Capital cut their target price on shares of Shopify from $85.00 to $62.50 in a research report on Thursday, April 21st. Credit Suisse Group cut their target price on shares of Shopify from $41.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, July 28th. Veritas Investment Research lowered shares of Shopify from a “buy” rating to a “sell” rating in a research report on Thursday, May 5th. TheStreet lowered shares of Shopify from a “c” rating to a “d+” rating in a research report on Tuesday, May 24th. Finally, Morgan Stanley cut their price objective on shares of Shopify to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 29th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.34.

Shopify Price Performance

NYSE SHOP opened at $40.81 on Friday. The company’s fifty day simple moving average is $41.35 and its 200-day simple moving average is $55.29. Shopify Inc. has a 52 week low of $29.72 and a 52 week high of $176.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 11.17 and a quick ratio of 11.17.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last posted its earnings results on Thursday, May 5th. The software maker reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). Shopify had a negative return on equity of 1.61% and a negative net margin of 38.01%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the firm posted $0.13 earnings per share. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. As a group, research analysts expect that Shopify Inc. will post -0.45 earnings per share for the current year.

Shopify Company Profile

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Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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