DMC Group LLC Has $1.14 Million Holdings in Shopify Inc. (NYSE:SHOP)

DMC Group LLC decreased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,226 shares of the software maker’s stock after selling 1,225 shares during the quarter. DMC Group LLC’s holdings in Shopify were worth $1,140,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SHOP. Capital World Investors grew its holdings in 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 acquiring an additional 10,340,040 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Shopify by 1.7% in the first 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 increased its holdings in Shopify by 21.2% in the first 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 purchasing an additional 5,982,434 shares during the period. GQG Partners LLC increased its holdings in Shopify by 197.9% in the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after purchasing an additional 13,885,473 shares during the period. Finally, Capital International Investors lifted its holdings in 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 buying an additional 542,503 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $82.68 on Friday. The stock has a 50 day moving average of $76.26 and a 200 day moving average of $68.87. The company has a market capitalization of $106.55 billion, a price-to-earnings ratio of 84.37, a PEG ratio of 2.80 and a beta of 2.36. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) EPS. As a group, sell-side analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SHOP. Robert W. Baird increased their price target on Shopify from $79.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Loop Capital increased their target price on shares of Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Wolfe Research began coverage on shares of Shopify in a report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price objective on shares of Shopify in a research note on Tuesday, September 10th. Finally, Bank of America upgraded shares of Shopify from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $78.00 to $82.00 in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $79.36.

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.