Shopify Inc. $SHOP Shares Bought by Seros Financial LLC

Seros Financial LLC boosted its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 21.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,781 shares of the software maker’s stock after buying an additional 500 shares during the period. Seros Financial LLC’s holdings in Shopify were worth $321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. River Street Advisors LLC boosted its stake in Shopify by 1.6% during the second quarter. River Street Advisors LLC now owns 8,349 shares of the software maker’s stock worth $963,000 after buying an additional 132 shares during the last quarter. Hilltop National Bank acquired a new position in Shopify during the second quarter worth $117,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Shopify by 171.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock worth $48,827,000 after buying an additional 267,271 shares during the last quarter. J. Safra Sarasin Holding AG boosted its stake in Shopify by 30.1% during the second quarter. J. Safra Sarasin Holding AG now owns 3,098 shares of the software maker’s stock worth $357,000 after buying an additional 716 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. raised its position in Shopify by 3.5% in the second quarter. ASR Vermogensbeheer N.V. now owns 26,919 shares of the software maker’s stock valued at $3,098,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on SHOP shares. JPMorgan Chase & Co. lifted their target price on Shopify from $115.00 to $179.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Robert W. Baird lifted their target price on Shopify from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. ATB Capital downgraded Shopify to a “sector perform” rating in a research report on Thursday, August 7th. Evercore ISI lifted their target price on Shopify from $120.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, JMP Securities lifted their target price on Shopify from $135.00 to $185.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. Twenty-three investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $150.83.

Shopify Trading Up 1.2%

Shares of NASDAQ SHOP opened at $151.30 on Friday. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $159.01. The stock has a fifty day simple moving average of $142.04 and a 200-day simple moving average of $116.66. The stock has a market capitalization of $196.64 billion, a PE ratio of 84.53, a PEG ratio of 7.09 and a beta of 2.72.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the firm posted $0.26 EPS. Shopify’s revenue for the quarter was up 31.1% on a year-over-year basis. On average, equities analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, 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.