Toronto Dominion Bank lifted its holdings in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 100.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 105,888 shares of the software maker’s stock after buying an additional 53,119 shares during the period. Toronto Dominion Bank’s holdings in Shopify were worth $15,180,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC increased its position in Shopify by 18.9% in the 2nd quarter. Fisher Asset Management LLC now owns 2,496 shares of the software maker’s stock valued at $364,000 after buying an additional 396 shares in the last quarter. Fusion Family Wealth LLC increased its position in Shopify by 109.2% in the 1st quarter. Fusion Family Wealth LLC now owns 822 shares of the software maker’s stock valued at $102,000 after buying an additional 429 shares in the last quarter. Roundview Capital LLC increased its position in Shopify by 11.0% in the 1st quarter. Roundview Capital LLC now owns 5,765 shares of the software maker’s stock valued at $718,000 after buying an additional 570 shares in the last quarter. First Trust Advisors LP increased its position in Shopify by 20.0% in the 2nd quarter. First Trust Advisors LP now owns 3,592 shares of the software maker’s stock valued at $524,000 after buying an additional 599 shares in the last quarter. Finally, Financial Advocates Investment Management increased its position in Shopify by 37.8% in the 1st quarter. Financial Advocates Investment Management now owns 2,763 shares of the software maker’s stock valued at $344,000 after buying an additional 758 shares in the last quarter. 58.13% of the stock is owned by hedge funds and other institutional investors.

Shares of SHOP opened at $137.19 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.89 and a quick ratio of 12.89. The company has a market cap of $15.76 billion, a price-to-earnings ratio of -326.64 and a beta of 1.19. Shopify Inc has a 52 week low of $89.35 and a 52 week high of $176.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, July 31st. The software maker reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.30. The firm had revenue of $245.00 million during the quarter, compared to analyst estimates of $234.72 million. Shopify had a negative return on equity of 3.77% and a negative net margin of 6.12%. The company’s revenue for the quarter was up 61.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) EPS. analysts expect that Shopify Inc will post -0.76 EPS for the current year.

A number of brokerages recently commented on SHOP. Roth Capital boosted their target price on Shopify from $152.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, May 11th. DA Davidson boosted their target price on Shopify to $130.00 and gave the company a “neutral” rating in a research report on Thursday, May 10th. Canaccord Genuity boosted their target price on Shopify from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Robert W. Baird boosted their target price on Shopify from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Tuesday, July 31st. Finally, Piper Jaffray Companies lowered Shopify from an “overweight” rating to a “neutral” rating and set a $145.00 target price for the company. in a research report on Tuesday, July 31st. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $157.84.

Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, 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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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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