Shopify Inc. (SHOP) Shares Sold by Tobam
Tobam cut its position in Shopify Inc. (NYSE:SHOP) (TSE:SH) by 35.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 28,192 shares of the software maker’s stock after selling 15,308 shares during the period. Tobam’s holdings in Shopify were worth $2,444,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley boosted its position in Shopify by 117.8% in the first quarter. Morgan Stanley now owns 643,902 shares of the software maker’s stock worth $43,843,000 after buying an additional 348,254 shares in the last quarter. Steadfast Capital Management LP acquired a new position in Shopify during the first quarter worth approximately $21,630,000. TD Asset Management Inc. boosted its position in Shopify by 96.7% in the second quarter. TD Asset Management Inc. now owns 607,330 shares of the software maker’s stock worth $52,657,000 after buying an additional 298,510 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Shopify during the second quarter worth approximately $19,043,000. Finally, Montrusco Bolton Investments Inc. acquired a new position in Shopify during the first quarter worth approximately $13,544,000. 53.78% of the stock is currently owned by institutional investors.
Shopify Inc. (NYSE SHOP) opened at 103.79 on Tuesday. Shopify Inc. has a 52 week low of $37.74 and a 52 week high of $107.00. The stock’s market capitalization is $10.23 billion. The stock has a 50 day moving average price of $94.60 and a 200 day moving average price of $81.29.
Shopify (NYSE:SHOP) (TSE:SH) last posted its quarterly earnings results on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.05. The business had revenue of $151.70 million during the quarter, compared to the consensus estimate of $143.94 million. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. The company’s revenue for the quarter was up 75.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.04) earnings per share. Equities analysts forecast that Shopify Inc. will post ($0.05) EPS for the current year.
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Several brokerages have recently issued reports on SHOP. Vetr cut Shopify from a “sell” rating to a “strong sell” rating and set a $73.40 price objective on the stock. in a report on Monday, May 8th. CSFB reaffirmed an “outperform” rating and set a $128.00 price objective on shares of Shopify in a report on Tuesday, May 23rd. Wedbush upped their price objective on Shopify from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, May 3rd. Robert W. Baird reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Shopify in a report on Monday, May 15th. Finally, Eight Capital raised Shopify from a “neutral” rating to a “buy” rating in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $90.93.
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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