Sigma Investment Counselors Inc. held its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) during the second quarter, Holdings Channel reports. The firm owned 4,500 shares of the software maker’s stock at the end of the second quarter. Sigma Investment Counselors Inc.’s holdings in Shopify were worth $391,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Nadler Financial Group Inc. raised its stake in shares of Shopify by 0.9% in the second quarter. Nadler Financial Group Inc. now owns 3,033 shares of the software maker’s stock worth $264,000 after buying an additional 28 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Shopify by 6.9% in the second quarter. Janney Montgomery Scott LLC now owns 9,001 shares of the software maker’s stock worth $782,000 after buying an additional 581 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Shopify by 148.1% in the first quarter. Toronto Dominion Bank now owns 1,630 shares of the software maker’s stock worth $111,000 after buying an additional 973 shares during the last quarter. BB&T Securities LLC boosted its position in shares of Shopify by 12.1% in the first quarter. BB&T Securities LLC now owns 10,054 shares of the software maker’s stock worth $684,000 after buying an additional 1,085 shares during the last quarter. Finally, EAM Investors LLC boosted its position in shares of Shopify by 14.7% in the first quarter. EAM Investors LLC now owns 10,418 shares of the software maker’s stock worth $709,000 after buying an additional 1,332 shares during the last quarter. 61.47% of the stock is owned by institutional investors and hedge funds.

Shopify Inc. (NYSE SHOP) opened at 95.19 on Thursday. Shopify Inc. has a 1-year low of $36.36 and a 1-year high of $105.79. The stock’s 50 day moving average is $92.21 and its 200 day moving average is $77.59. The firm’s market capitalization is $9.38 billion.

Shopify (NYSE:SHOP) (TSE:SH) last released its quarterly earnings data on Tuesday, August 1st. The software maker reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.05. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The firm had revenue of $151.70 million for the quarter, compared to analyst estimates of $143.94 million. During the same period last year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was up 75.2% compared to the same quarter last year. Analysts predict that Shopify Inc. will post ($0.05) EPS for the current fiscal year.

WARNING: “Sigma Investment Counselors Inc. Holds Position in Shopify Inc. (SHOP)” was originally posted by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://www.watchlistnews.com/sigma-investment-counselors-inc-holds-position-in-shopify-inc-shop/1470181.html.

A number of equities analysts have recently weighed in on SHOP shares. Vetr cut shares of Shopify from a “strong-buy” rating to a “buy” rating and set a $101.99 price target on the stock. in a research report on Thursday, June 22nd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Shopify in a research report on Wednesday. Credit Suisse Group reissued an “outperform” rating and set a $95.00 price target on shares of Shopify in a research report on Tuesday, May 23rd. Wedbush reissued an “outperform” rating and set a $115.00 price target (up from $100.00) on shares of Shopify in a research report on Tuesday. Finally, BidaskClub cut shares of Shopify from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $88.33.

About Shopify

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.

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NYSE:SHOP) (TSE:SH).

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

Receive News & Ratings for Shopify Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.