Boyd Watterson Asset Management LLC OH Increases Stake in Shopify Inc. (NYSE:SHOP)

Boyd Watterson Asset Management LLC OH grew its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,764 shares of the software maker’s stock after buying an additional 155 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in Shopify were worth $2,145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital World Investors lifted its stake in Shopify by 26.2% in the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. raised 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 worth $3,309,154,000 after acquiring an additional 713,064 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after acquiring an additional 5,982,434 shares during the last quarter. GQG Partners LLC grew its holdings in shares of Shopify by 197.9% in the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after purchasing an additional 13,885,473 shares during the period. Finally, Capital International Investors increased its position in Shopify by 3.4% during the first quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock worth $1,264,982,000 after purchasing an additional 542,503 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 0.7 %

Shares of NYSE SHOP opened at $80.20 on Thursday. The firm’s 50-day moving average is $76.94 and its two-hundred day moving average is $69.00. The company has a market capitalization of $103.35 billion, a PE ratio of 81.28, a price-to-earnings-growth ratio of 2.73 and a beta of 2.36. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the business posted ($0.08) earnings per share. Shopify’s revenue was up 20.7% compared to the same quarter last year. Equities analysts anticipate that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on SHOP shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Morgan Stanley lifted their price target on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Bank of America raised Shopify from a “neutral” rating to a “buy” rating and lifted their target price for the company from $78.00 to $82.00 in a research report on Tuesday, July 16th. Finally, Roth Mkm lifted their price objective on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $79.36.

Shopify 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.