Janus Henderson Group PLC Decreases Stake in Shopify Inc (SHOP)

Janus Henderson Group PLC trimmed its stake in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 62.4% in the 1st quarter, Holdings Channel reports. The firm owned 24,605 shares of the software maker’s stock after selling 40,855 shares during the period. Janus Henderson Group PLC’s holdings in Shopify were worth $5,082,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. Norges Bank purchased a new position in shares of Shopify during the fourth quarter valued at approximately $101,062,000. Baillie Gifford & Co. increased its holdings in Shopify by 21.7% during the fourth quarter. Baillie Gifford & Co. now owns 3,788,009 shares of the software maker’s stock valued at $524,449,000 after buying an additional 674,648 shares during the last quarter. WCM Investment Management LLC increased its holdings in Shopify by 5.7% during the fourth quarter. WCM Investment Management LLC now owns 6,599,190 shares of the software maker’s stock valued at $913,657,000 after buying an additional 357,313 shares during the last quarter. Toronto Dominion Bank increased its holdings in Shopify by 492.2% during the fourth quarter. Toronto Dominion Bank now owns 392,788 shares of the software maker’s stock valued at $54,381,000 after buying an additional 326,462 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Shopify by 246.7% during the third quarter. Legal & General Group Plc now owns 282,280 shares of the software maker’s stock valued at $46,414,000 after buying an additional 200,868 shares during the last quarter. 67.14% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE SHOP opened at $273.50 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 12.56 and a quick ratio of 12.57. The firm has a market capitalization of $30.19 billion, a PE ratio of -448.36 and a beta of 1.57. Shopify Inc has a 1 year low of $117.64 and a 1 year high of $279.48.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.44. The firm had revenue of $320.50 million during the quarter, compared to analysts’ expectations of $310.11 million. Shopify had a negative net margin of 6.17% and a negative return on equity of 3.74%. The company’s revenue for the quarter was up 49.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 earnings per share. As a group, research analysts predict that Shopify Inc will post -0.86 earnings per share for the current fiscal year.

A number of brokerages have commented on SHOP. Roth Capital upped their target price on shares of Shopify from $275.00 to $225.00 in a report on Tuesday, April 30th. Robert W. Baird upped their target price on shares of Shopify from $208.00 to $269.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Zacks Investment Research cut shares of Shopify from a “buy” rating to a “hold” rating in a report on Thursday. Macquarie upped their target price on shares of Shopify to $230.00 and gave the company an “outperform” rating in a report on Wednesday, March 27th. Finally, Piper Jaffray Companies upped their target price on shares of Shopify from $149.00 to $216.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $237.71.

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Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

Further Reading: How To Calculate Debt-to-Equity Ratio

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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