Shopify Inc. (NYSE:SHOP) Shares Purchased by Atria Investments Inc

Atria Investments Inc lifted its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,648 shares of the software maker’s stock after purchasing an additional 6,244 shares during the quarter. Atria Investments Inc’s holdings in Shopify were worth $5,838,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GQG Partners LLC raised its stake in Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after acquiring an additional 13,885,473 shares during the last quarter. Norges Bank purchased a new stake in Shopify during the 4th quarter valued at approximately $1,049,089,000. Capital World Investors raised its stake in Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after acquiring an additional 10,340,040 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after acquiring an additional 5,982,434 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Shopify by 214.5% during the 1st quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock valued at $224,492,000 after acquiring an additional 1,983,996 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SHOP. BNP Paribas raised Shopify from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 2nd. Royal Bank of Canada cut their target price on Shopify from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. DA Davidson dropped their price objective on Shopify from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Evercore raised Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Friday, June 14th. Finally, Citigroup lifted their price objective on Shopify from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.62.

Shopify Stock Down 6.4 %

Shopify stock traded down $3.74 during midday trading on Friday, hitting $54.43. The stock had a trading volume of 18,357,852 shares, compared to its average volume of 8,092,817. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. The stock has a market cap of $70.14 billion, a P/E ratio of -320.18, a P/E/G ratio of 3.36 and a beta of 2.30. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The business has a fifty day moving average price of $63.09 and a 200 day moving average price of $70.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. Research analysts predict that Shopify Inc. will post 0.62 EPS for the current year.

Shopify 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.