Kore Private Wealth LLC Buys 41 Shares of Shopify Inc. (NYSE:SHOP)

Kore Private Wealth LLC grew its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 294 shares of the software maker’s stock after purchasing an additional 41 shares during the quarter. Kore Private Wealth LLC’s holdings in Shopify were worth $430,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Shopify by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,348,876 shares of the software maker’s stock worth $4,892,640,000 after buying an additional 78,123 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Shopify by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,772,038 shares of the software maker’s stock worth $3,066,852,000 after buying an additional 134,384 shares during the period. WCM Investment Management LLC grew its position in shares of Shopify by 0.8% in the 2nd quarter. WCM Investment Management LLC now owns 2,002,071 shares of the software maker’s stock worth $2,924,986,000 after buying an additional 16,854 shares during the period. ARK Investment Management LLC grew its position in shares of Shopify by 13.6% in the 2nd quarter. ARK Investment Management LLC now owns 1,219,318 shares of the software maker’s stock worth $1,781,399,000 after buying an additional 145,795 shares during the period. Finally, Bank of Montreal Can grew its position in shares of Shopify by 6.9% in the 1st quarter. Bank of Montreal Can now owns 1,112,772 shares of the software maker’s stock worth $1,360,576,000 after buying an additional 72,008 shares during the period. Institutional investors and hedge funds own 60.06% of the company’s stock.

NYSE SHOP opened at $1,398.97 on Thursday. The business has a fifty day moving average price of $1,465.16 and a 200 day moving average price of $1,359.17. Shopify Inc. has a one year low of $875.00 and a one year high of $1,650.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 16.55 and a current ratio of 16.55. The company has a market cap of $174.54 billion, a P/E ratio of 72.22, a P/E/G ratio of 13.58 and a beta of 1.45.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, July 28th. The software maker reported $2.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $2.01. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.04 billion. Shopify had a return on equity of 7.15% and a net margin of 63.65%. As a group, sell-side analysts predict that Shopify Inc. will post 3.95 EPS for the current fiscal year.

A number of analysts have recently weighed in on SHOP shares. Credit Suisse Group upped their target price on shares of Shopify from $1,400.00 to $1,700.00 and gave the stock a “neutral” rating in a research report on Thursday, July 29th. TheStreet downgraded shares of Shopify from a “b-” rating to a “c+” rating in a research report on Tuesday, September 14th. TD Securities assumed coverage on shares of Shopify in a research report on Thursday. They set a “hold” rating on the stock. KeyCorp increased their price objective on shares of Shopify from $1,650.00 to $1,750.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. Finally, DA Davidson increased their price objective on shares of Shopify from $1,275.00 to $1,450.00 and gave the company a “neutral” rating in a research report on Thursday, July 29th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, Shopify presently has a consensus rating of “Buy” and a consensus target price of $1,635.59.

Shopify Company Profile

Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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