Mitchell Capital Management Co. Makes New $513,000 Investment in Shopify Inc. (NYSE:SHOP)

Mitchell Capital Management Co. purchased a new position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 351 shares of the software maker’s stock, valued at approximately $513,000.

A number of other institutional investors have also modified their holdings of SHOP. First Trust Advisors LP raised its holdings in Shopify by 15.6% during the 1st quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock worth $723,000 after buying an additional 472 shares during the period. Victory Capital Management Inc. raised its holdings in Shopify by 4.8% during the 1st quarter. Victory Capital Management Inc. now owns 47,517 shares of the software maker’s stock worth $52,578,000 after buying an additional 2,197 shares during the period. Cullen Frost Bankers Inc. raised its holdings in Shopify by 27.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 276 shares of the software maker’s stock worth $305,000 after buying an additional 60 shares during the period. Glassman Wealth Services raised its holdings in Shopify by 13.1% during the 1st quarter. Glassman Wealth Services now owns 112 shares of the software maker’s stock worth $124,000 after buying an additional 13 shares during the period. Finally, Lakeview Capital Partners LLC raised its holdings in Shopify by 6.1% during the 1st quarter. Lakeview Capital Partners LLC now owns 242 shares of the software maker’s stock worth $268,000 after buying an additional 14 shares during the period. Hedge funds and other institutional investors own 60.06% of the company’s stock.

Shares of NYSE SHOP opened at $1,451.28 on Wednesday. The business has a fifty day simple moving average of $1,515.62 and a 200 day simple moving average of $1,323.14. The company has a current ratio of 16.55, a quick ratio of 16.55 and a debt-to-equity ratio of 0.10. The firm 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. Shopify Inc. has a one year low of $839.40 and a one year high of $1,650.00.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, July 28th. The software maker reported $2.24 EPS for the quarter, beating analysts’ consensus estimates 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%. On average, research analysts anticipate that Shopify Inc. will post 2.08 earnings per share for the current fiscal year.

Several analysts have issued reports on the company. Wedbush boosted their price objective on Shopify from $1,650.00 to $1,800.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Mizuho boosted their price objective on Shopify from $1,300.00 to $1,500.00 and gave the stock a “neutral” rating in a report on Thursday, July 29th. They noted that the move was a valuation call. Jefferies Financial Group boosted their price objective on Shopify from $1,675.00 to $1,800.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. National Bankshares upped their target price on Shopify from $1,650.00 to $2,000.00 and gave the company an “outperform” rating in a report on Friday, July 16th. Finally, Zacks Investment Research upgraded Shopify from a “hold” rating to a “strong-buy” rating and set a $1,514.00 target price on the stock in a report on Friday, July 16th. Eleven research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Shopify has a consensus rating of “Buy” and an average target price 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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