Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 219,707 shares of the software maker’s stock, valued at approximately $19,043,000. Sumitomo Mitsui Trust Holdings Inc. owned about 0.22% of Shopify as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Nadler Financial Group Inc. increased its position in Shopify by 0.9% in the second quarter. Nadler Financial Group Inc. now owns 3,033 shares of the software maker’s stock worth $264,000 after buying an additional 28 shares during the period. Tocqueville Asset Management L.P. increased its position in Shopify by 2.1% in the second quarter. Tocqueville Asset Management L.P. now owns 19,200 shares of the software maker’s stock worth $1,668,000 after buying an additional 400 shares during the period. Janney Montgomery Scott LLC increased its position in Shopify by 6.9% in the second quarter. Janney Montgomery Scott LLC now owns 9,001 shares of the software maker’s stock worth $782,000 after buying an additional 581 shares during the period. Toronto Dominion Bank increased its position in Shopify by 148.1% in the first quarter. Toronto Dominion Bank now owns 1,630 shares of the software maker’s stock worth $111,000 after buying an additional 973 shares during the period. Finally, BB&T Securities LLC increased its position in Shopify by 12.1% in the first quarter. BB&T Securities LLC now owns 10,054 shares of the software maker’s stock worth $684,000 after buying an additional 1,085 shares during the period. Institutional investors own 53.78% of the company’s stock.

Shopify Inc. (NYSE SHOP) opened at 110.86 on Friday. The firm’s 50-day moving average price is $96.81 and its 200 day moving average price is $83.19. The stock’s market cap is $10.93 billion. Shopify Inc. has a 12-month low of $37.74 and a 12-month high of $112.00. Shopify also was the target of some unusual options trading on Wednesday. Investors bought 5,199 put options on the company. This is an increase of approximately 129% compared to the average daily volume of 2,271 put options.

Shopify (NYSE:SHOP) (TSE:SH) last announced its earnings results on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.05. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. The business had revenue of $151.70 million during the quarter, compared to analysts’ expectations of $143.94 million. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The business’s revenue was up 75.2% compared to the same quarter last year. Analysts anticipate that Shopify Inc. will post ($0.05) EPS for the current year.

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SHOP has been the subject of a number of research reports. Vetr downgraded Shopify from a “strong-buy” rating to a “buy” rating and set a $101.99 price objective for the company. in a report on Thursday, June 22nd. Roth Capital reiterated a “buy” rating and issued a $92.00 price objective (up previously from $82.00) on shares of Shopify in a report on Friday, May 5th. BidaskClub downgraded Shopify from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Robert W. Baird reiterated an “outperform” rating on shares of Shopify in a report on Monday, July 3rd. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $90.00 price objective (up previously from $70.00) on shares of Shopify in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Shopify has an average rating of “Buy” and a consensus target price of $90.93.

About Shopify

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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