Bellecapital International Ltd. Increases Stock Position in Shopify Inc. (NYSE:SHOP)

Bellecapital International Ltd. lifted its holdings in Shopify Inc. (NYSE:SHOPGet Rating) (TSE:SHOP) by 127.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 19,868 shares of the software maker’s stock after purchasing an additional 11,148 shares during the period. Bellecapital International Ltd.’s holdings in Shopify were worth $535,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. AlphaCrest Capital Management LLC lifted its position in shares of Shopify by 414.3% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 12,308 shares of the software maker’s stock worth $385,000 after purchasing an additional 9,915 shares during the period. Summit Trail Advisors LLC lifted its position in Shopify by 637.0% during the second quarter. Summit Trail Advisors LLC now owns 8,291 shares of the software maker’s stock valued at $259,000 after acquiring an additional 7,166 shares during the last quarter. CI Investments Inc. lifted its position in Shopify by 1,903.5% during the second quarter. CI Investments Inc. now owns 370,374 shares of the software maker’s stock valued at $11,570,000 after acquiring an additional 351,888 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Shopify by 853.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,967,747 shares of the software maker’s stock valued at $61,473,000 after acquiring an additional 1,761,357 shares during the last quarter. Finally, MAI Capital Management lifted its position in Shopify by 1,039.5% during the second quarter. MAI Capital Management now owns 30,583 shares of the software maker’s stock valued at $955,000 after acquiring an additional 27,899 shares during the last quarter. Hedge funds and other institutional investors own 56.31% of the company’s stock.

Shopify Price Performance

Shares of NYSE:SHOP traded up $3.54 on Wednesday, reaching $46.23. 10,326,588 shares of the company were exchanged, compared to its average volume of 18,685,662. The company has a current ratio of 6.64, a quick ratio of 6.64 and a debt-to-equity ratio of 0.15. Shopify Inc. has a 1-year low of $23.63 and a 1-year high of $98.85. The firm has a market cap of $58.38 billion, a price-to-earnings ratio of -18.13 and a beta of 1.93. The company has a 50-day moving average of $37.50 and a 200-day moving average of $34.57.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last announced its quarterly earnings data on Thursday, October 27th. The software maker reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.10. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.33 billion. Shopify had a negative net margin of 61.17% and a negative return on equity of 3.82%. Equities analysts forecast that Shopify Inc. will post -0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SHOP has been the topic of a number of recent analyst reports. TD Securities upped their price target on shares of Shopify from $35.00 to $38.00 and gave the company a “hold” rating in a research note on Friday, October 28th. Wells Fargo & Company increased their price objective on shares of Shopify from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. StockNews.com upgraded shares of Shopify to a “sell” rating in a research note on Monday, January 16th. DA Davidson began coverage on shares of Shopify in a research report on Wednesday, January 18th. They set a “neutral” rating and a $34.00 price target on the stock. Finally, CIBC upgraded shares of Shopify from a “neutral” rating to a “sector outperform” rating in a research report on Tuesday, December 6th. Three analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.08.

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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