Shopify Inc. $SHOP Shares Acquired by Clarius Group LLC

Clarius Group LLC increased its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,628 shares of the software maker’s stock after acquiring an additional 179 shares during the quarter. Clarius Group LLC’s holdings in Shopify were worth $879,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Shopify by 1.9% in the first quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker’s stock valued at $4,563,106,000 after buying an additional 882,168 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Shopify by 19.7% in the first quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock valued at $822,745,000 after buying an additional 1,426,406 shares during the last quarter. Nuveen LLC bought a new stake in Shopify in the first quarter valued at about $667,392,000. Canada Pension Plan Investment Board increased its holdings in Shopify by 34.4% in the first quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock valued at $565,504,000 after buying an additional 1,522,573 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Shopify by 21.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker’s stock valued at $539,382,000 after buying an additional 979,598 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

SHOP has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on Shopify from $120.00 to $176.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Arete reissued a “neutral” rating on shares of Shopify in a report on Wednesday, July 23rd. KeyCorp reissued an “overweight” rating and issued a $175.00 price objective (up from $145.00) on shares of Shopify in a report on Thursday, August 7th. JMP Securities upped their target price on Shopify from $135.00 to $185.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. Finally, Canaccord Genuity Group upped their target price on Shopify from $115.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Twenty-two equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $150.59.

Shopify Price Performance

SHOP opened at $161.14 on Monday. The company has a market capitalization of $209.43 billion, a price-to-earnings ratio of 90.02, a price-to-earnings-growth ratio of 7.64 and a beta of 2.72. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $162.60. The business has a 50 day moving average price of $142.78 and a two-hundred day moving average price of $117.34.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the firm posted $0.26 earnings per share. The firm’s revenue for the quarter was up 31.1% compared to the same quarter last year. Equities analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.