DMC Group LLC Decreases Stock Position in Shopify Inc. (NYSE:SHOP)

DMC Group LLC cut its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,226 shares of the software maker’s stock after selling 1,225 shares during the quarter. DMC Group LLC’s holdings in Shopify were worth $1,140,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norden Group LLC purchased a new position in Shopify in the 1st quarter valued at approximately $3,618,000. Silvercrest Asset Management Group LLC grew its position in shares of Shopify by 735.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock valued at $4,084,000 after purchasing an additional 46,589 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Shopify by 5.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock valued at $40,838,000 after purchasing an additional 28,639 shares during the period. Clearbridge Investments LLC raised its stake in shares of Shopify by 54.2% during the 2nd quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock valued at $311,404,000 after purchasing an additional 1,657,251 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Shopify by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after purchasing an additional 713,064 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock opened at $82.68 on Friday. The stock has a market capitalization of $106.55 billion, a price-to-earnings ratio of 84.37, a PEG ratio of 2.80 and a beta of 2.36. The firm’s 50-day moving average price is $76.26 and its two-hundred day moving average price is $68.87. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SHOP shares. Morgan Stanley upped their price target on Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Wedbush reaffirmed a “neutral” rating and set a $72.00 target price (up previously from $68.00) on shares of Shopify in a report on Wednesday, August 7th. Roth Mkm raised their price target on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Benchmark restated a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada increased their price objective on Shopify from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.36.

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.