Macguire Cheswick & Tuttle Investment Counsel LLC purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,445 shares of the software maker’s stock, valued at approximately $560,000.

Other large investors also recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. acquired a new position in shares of Shopify during the second quarter worth about $1,120,000. Barton Investment Management raised its position in shares of Shopify by 13.0% in the second quarter. Barton Investment Management now owns 259,650 shares of the software maker’s stock worth $22,564,000 after buying an additional 29,830 shares during the period. Toronto Dominion Bank raised its position in shares of 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. Goldman Sachs Group Inc. raised its position in shares of Shopify by 291.5% in the first quarter. Goldman Sachs Group Inc. now owns 157,218 shares of the software maker’s stock worth $10,705,000 after buying an additional 117,062 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Shopify by 149.6% in the first quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the software maker’s stock worth $230,000 after buying an additional 2,032 shares during the period. Institutional investors own 61.47% of the company’s stock.

Shares of Shopify Inc. (SHOP) opened at 91.71 on Friday. Shopify Inc. has a 52-week low of $37.00 and a 52-week high of $105.79. The company has a 50-day moving average of $92.14 and a 200 day moving average of $77.97. The firm’s market cap is $9.04 billion.

Shopify (NYSE:SHOP) (TSE:SH) last posted its quarterly earnings data on Tuesday, August 1st. The software maker reported ($0.15) earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $143.94 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. The firm’s quarterly revenue was up 75.2% compared to the same quarter last year. On average, equities analysts expect that Shopify Inc. will post ($0.05) earnings per share for the current year.

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A number of research analysts recently issued reports on the stock. 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. Canaccord Genuity reiterated a “buy” rating and issued a $115.00 price objective (up previously from $90.00) on shares of Shopify in a report on Wednesday, August 2nd. Royal Bank Of Canada raised their price objective on shares of Shopify from $78.00 to $99.00 and gave the company a “sector perform” rating in a report on Wednesday, August 2nd. Robert W. Baird raised their price objective on shares of Shopify from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Finally, Wedbush raised their price objective on shares of Shopify from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $88.33.

Shopify Company Profile

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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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