Shopify Inc (NYSE:SHOP) Shares Acquired by Sigma Planning Corp

Sigma Planning Corp lifted its position in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 19.3% during the second quarter, HoldingsChannel reports. The firm owned 3,674 shares of the software maker’s stock after purchasing an additional 594 shares during the quarter. Sigma Planning Corp’s holdings in Shopify were worth $1,103,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tortoise Investment Management LLC acquired a new stake in Shopify in the first quarter valued at $29,000. Beutel Goodman & Co Ltd. acquired a new stake in Shopify in the first quarter valued at $35,000. Signaturefd LLC raised its holdings in Shopify by 56.9% in the first quarter. Signaturefd LLC now owns 171 shares of the software maker’s stock valued at $35,000 after acquiring an additional 62 shares in the last quarter. Executive Wealth Management LLC raised its holdings in Shopify by 34.6% in the first quarter. Executive Wealth Management LLC now owns 175 shares of the software maker’s stock valued at $36,000 after acquiring an additional 45 shares in the last quarter. Finally, Aperio Group LLC acquired a new stake in Shopify in the second quarter valued at $37,000. 65.72% of the stock is currently owned by institutional investors and hedge funds.

SHOP has been the topic of several recent analyst reports. CSFB upped their price target on shares of Shopify from $275.00 to $370.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Bank of America upped their price target on shares of Shopify from $185.00 to $300.00 and gave the company an “underperform” rating in a report on Friday, August 2nd. Barclays upped their price target on shares of Shopify from $225.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, June 21st. SunTrust Banks upped their price target on shares of Shopify to $245.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. Finally, Robert W. Baird upped their price target on shares of Shopify from $360.00 to $370.00 in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $327.00.

SHOP stock traded up $7.67 during trading on Friday, hitting $358.74. 1,304,400 shares of the company’s stock traded hands, compared to its average volume of 1,991,046. The company has a quick ratio of 11.44, a current ratio of 11.44 and a debt-to-equity ratio of 0.05. Shopify Inc has a 52 week low of $117.64 and a 52 week high of $372.36. The stock has a fifty day moving average price of $329.44 and a two-hundred day moving average price of $255.78. The stock has a market capitalization of $39.16 billion, a price-to-earnings ratio of -588.10 and a beta of 1.30.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Thursday, August 1st. The software maker reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.31) by $0.45. The business had revenue of $361.98 million during the quarter, compared to analyst estimates of $350.59 million. Shopify had a negative net margin of 5.98% and a negative return on equity of 3.85%. The company’s quarterly revenue was up 47.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 earnings per share. As a group, equities research analysts expect that Shopify Inc will post -0.82 EPS for the current fiscal year.

Shopify 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.

Featured Article: Lock-Up Period Expiration

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) (TSE:SHOP).

Institutional Ownership by Quarter for Shopify (NYSE: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.