Cambridge Investment Research Advisors Inc. Has $28.84 Million Stock Position in Shopify Inc. (NYSE:SHOP)

Cambridge Investment Research Advisors Inc. lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,740 shares of the software maker’s stock after purchasing an additional 626 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Shopify were worth $28,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in shares of Shopify by 2.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 108,486 shares of the software maker’s stock worth $158,495,000 after buying an additional 2,412 shares during the period. Northern Trust Corp raised its position in shares of Shopify by 5.2% during the first quarter. Northern Trust Corp now owns 203,245 shares of the software maker’s stock worth $224,890,000 after acquiring an additional 10,023 shares during the last quarter. Tudor Investment Corp Et Al raised its position in shares of Shopify by 84.5% during the first quarter. Tudor Investment Corp Et Al now owns 3,662 shares of the software maker’s stock worth $4,052,000 after acquiring an additional 1,677 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Shopify by 54.5% during the second quarter. Advisors Asset Management Inc. now owns 20,510 shares of the software maker’s stock worth $29,965,000 after acquiring an additional 7,233 shares during the last quarter. Finally, D.A. Davidson & CO. grew its stake in shares of Shopify by 45.2% during the first quarter. D.A. Davidson & CO. now owns 5,080 shares of the software maker’s stock worth $5,621,000 after purchasing an additional 1,581 shares during the period. 60.06% of the stock is currently owned by institutional investors.

Shares of SHOP opened at $1,451.28 on Wednesday. Shopify Inc. has a 52 week low of $839.40 and a 52 week high of $1,650.00. The stock has a market capitalization of $181.07 billion, a price-to-earnings ratio of 74.92, a PEG ratio of 28.48 and a beta of 1.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 16.55 and a current ratio of 16.55. The stock has a fifty day moving average of $1,515.62 and a 200-day moving average of $1,323.14.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, July 28th. The software maker reported $2.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $2.01. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.04 billion. Shopify had a return on equity of 7.15% and a net margin of 63.65%. As a group, equities analysts forecast that Shopify Inc. will post 2.08 EPS for the current year.

SHOP has been the subject of a number of research analyst reports. Rosenblatt Securities boosted their target price on Shopify from $1,900.00 to $2,000.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Loop Capital upped their price objective on Shopify from $1,400.00 to $1,600.00 and gave the stock a “buy” rating in a research report on Wednesday, June 30th. Argus upped their price objective on Shopify from $1,650.00 to $1,850.00 and gave the stock a “buy” rating in a research report on Thursday, July 29th. Guggenheim reiterated a “hold” rating on shares of Shopify in a report on Friday, August 27th. Finally, Susquehanna Bancshares upped their target price on Shopify from $1,500.00 to $1,800.00 and gave the stock a “positive” rating in a report on Thursday, July 22nd. Eleven investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $1,635.53.

About Shopify

Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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