Focus Financial Network Inc. trimmed its holdings in Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) by 85.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,915 shares of the software maker’s stock after selling 215,097 shares during the period. Focus Financial Network Inc.’s holdings in Shopify were worth $2,328,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the business. Capital World Investors boosted its stake in shares of Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Shopify by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after purchasing an additional 713,064 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 worth $2,642,265,000 after purchasing an additional 5,982,434 shares during the last quarter. GQG Partners LLC boosted its stake in shares of Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after purchasing an additional 13,885,473 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of Shopify by 3.4% during the 1st quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock worth $1,264,982,000 after purchasing an additional 542,503 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.
Shopify Stock Performance
SHOP stock traded up $0.52 during mid-day trading on Wednesday, reaching $75.39. The company had a trading volume of 1,939,389 shares, compared to its average volume of 10,301,956. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The stock has a market capitalization of $97.15 billion, a P/E ratio of -445.71, a P/E/G ratio of 2.40 and a beta of 2.30. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock’s 50-day simple moving average is $64.99 and its two-hundred day simple moving average is $69.40.
Analyst Ratings Changes
Several research firms have issued reports on SHOP. Wolfe Research began coverage on shares of Shopify in a research note on Tuesday, July 16th. They set an “outperform” rating and a $80.00 price target on the stock. TD Securities cut their price objective on shares of Shopify from $80.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. JPMorgan Chase & Co. increased their price objective on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday. UBS Group increased their price objective on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.30.
View Our Latest Stock Analysis on Shopify
About Shopify
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.
Featured Stories
- Five stocks we like better than Shopify
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- Target Hits the Mark: Q2 Earnings Exceed Expectations
- Airline Stocks – Top Airline Stocks to Buy Now
- Is Tesla’s Rebound Just Starting? Why You Should Consider Buying
- Why Invest in High-Yield Dividend Stocks?
- Stanley Druckenmiller’s Latest Bet: MELI—Should You Follow Suit?
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 – Free Report) (TSE:SHOP).
Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.