Rational Advisors LLC Has $1.03 Million Position in Shopify Inc (SHOP)
Rational Advisors LLC lowered its position in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 67.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,984 shares of the software maker’s stock after selling 10,458 shares during the period. Rational Advisors LLC’s holdings in Shopify were worth $1,030,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Manchester Capital Management LLC boosted its stake in Shopify by 11.4% in the first quarter. Manchester Capital Management LLC now owns 3,710 shares of the software maker’s stock valued at $767,000 after acquiring an additional 380 shares in the last quarter. Pinnacle Wealth Planning Services Inc. acquired a new position in Shopify in the first quarter valued at $364,000. Great West Life Assurance Co. Can boosted its stake in Shopify by 102.5% in the first quarter. Great West Life Assurance Co. Can now owns 157,193 shares of the software maker’s stock valued at $32,334,000 after acquiring an additional 79,579 shares in the last quarter. PCJ Investment Counsel Ltd. boosted its stake in Shopify by 120.0% in the first quarter. PCJ Investment Counsel Ltd. now owns 71,490 shares of the software maker’s stock valued at $14,762,000 after acquiring an additional 38,990 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Shopify by 7.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,787 shares of the software maker’s stock valued at $1,609,000 after acquiring an additional 510 shares in the last quarter. Hedge funds and other institutional investors own 64.75% of the company’s stock.
SHOP has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and issued a $177.00 price objective on shares of Shopify in a research note on Monday, January 28th. Zacks Investment Research downgraded shares of Shopify from a “hold” rating to a “strong sell” rating in a research note on Monday, February 18th. KeyCorp initiated coverage on shares of Shopify in a research note on Monday, April 29th. They issued an “overweight” rating and a $250.00 price objective for the company. SunTrust Banks restated a “hold” rating and issued a $170.00 price objective on shares of Shopify in a research note on Thursday, February 14th. Finally, Mackie upped their price objective on shares of Shopify from $170.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $240.81.
Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, April 30th. The software maker reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.44. Shopify had a negative net margin of 6.17% and a negative return on equity of 3.74%. The business had revenue of $320.50 million during the quarter, compared to analysts’ expectations of $310.11 million. During the same period in the prior year, the company earned $0.04 earnings per share. The business’s revenue was up 49.6% compared to the same quarter last year. As a group, sell-side analysts predict that Shopify Inc will post -0.86 EPS for the current year.
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Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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