Rathbones Group PLC Boosts Holdings in Shopify Inc. (NYSE:SHOP)

Rathbones Group PLC lifted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 33.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,119,859 shares of the software maker’s stock after buying an additional 278,263 shares during the quarter. Rathbones Group PLC’s holdings in Shopify were worth $73,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Norden Group LLC purchased a new position in shares of Shopify during the 1st quarter worth approximately $3,618,000. Silvercrest Asset Management Group LLC grew its stake in Shopify by 735.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after purchasing an additional 46,589 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Shopify by 5.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock worth $40,838,000 after purchasing an additional 28,639 shares in the last quarter. FIL Ltd lifted its position in Shopify by 1.8% during the fourth quarter. FIL Ltd now owns 13,303,001 shares of the software maker’s stock valued at $1,035,688,000 after buying an additional 238,596 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Shopify by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after buying an additional 713,064 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Stock Up 1.6 %

NYSE SHOP opened at $72.45 on Friday. The stock’s 50-day moving average price is $67.38 and its 200-day moving average price is $68.36. The company has a market capitalization of $93.36 billion, a P/E ratio of -426.18, a price-to-earnings-growth ratio of 2.40 and a beta of 2.35. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. On average, equities research analysts predict that Shopify Inc. will post 0.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $85.00 price target on shares of Shopify in a research report on Thursday, August 8th. Moffett Nathanson cut Shopify from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $74.00 to $65.00 in a research report on Thursday, June 6th. Evercore ISI raised their price objective on Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. UBS Group lifted their price objective on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Bank of America raised Shopify from a “neutral” rating to a “buy” rating and increased their target price for the stock from $78.00 to $82.00 in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus price target of $77.37.

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.