Shopify Inc (SHOP) Stake Increased by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA grew its holdings in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 33.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,198 shares of the software maker’s stock after buying an additional 798 shares during the period. BNP Paribas Arbitrage SA’s holdings in Shopify were worth $467,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SHOP. Fusion Family Wealth LLC increased its stake in shares of Shopify by 109.2% during the first quarter. Fusion Family Wealth LLC now owns 822 shares of the software maker’s stock worth $102,000 after purchasing an additional 429 shares during the period. Next Century Growth Investors LLC bought a new position in shares of Shopify during the first quarter worth approximately $115,000. Signaturefd LLC bought a new position in shares of Shopify during the first quarter worth approximately $132,000. Cornerstone Wealth Management LLC bought a new position in shares of Shopify during the second quarter worth approximately $165,000. Finally, Dubuque Bank & Trust Co. bought a new position in shares of Shopify during the first quarter worth approximately $196,000. 58.13% of the stock is owned by institutional investors.

Shopify stock opened at $139.16 on Friday. Shopify Inc has a one year low of $89.35 and a one year high of $176.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.89 and a current ratio of 12.89. The firm has a market cap of $15.76 billion, a price-to-earnings ratio of -331.33 and a beta of 1.19.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, July 31st. The software maker reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.30. Shopify had a negative return on equity of 3.77% and a negative net margin of 6.12%. The firm had revenue of $245.00 million for the quarter, compared to analyst estimates of $234.72 million. During the same quarter last year, the company earned ($0.01) EPS. The company’s revenue was up 61.5% on a year-over-year basis. equities research analysts expect that Shopify Inc will post -0.76 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on SHOP. KeyCorp reiterated an “overweight” rating and set a $182.00 target price (up previously from $170.00) on shares of Shopify in a research note on Tuesday, June 19th. Piper Jaffray Companies lowered Shopify from an “overweight” rating to a “neutral” rating and set a $145.00 target price on the stock. in a research note on Tuesday, July 31st. Royal Bank of Canada increased their target price on Shopify from $120.00 to $126.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 2nd. Barclays increased their target price on Shopify from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 2nd. Finally, Guggenheim began coverage on Shopify in a research note on Tuesday, August 7th. They set a “buy” rating and a $180.00 target price on the stock. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $157.84.

Shopify Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, 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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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