Bridgewater Associates LP Buys 394 Shares of Shopify Inc. (NYSE:SHOP)

Bridgewater Associates LP boosted its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 26.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,866 shares of the software maker’s stock after buying an additional 394 shares during the quarter. Bridgewater Associates LP’s holdings in Shopify were worth $2,732,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SHOP. Stonebridge Capital Advisors LLC bought a new position in Shopify during the first quarter valued at about $30,000. Barrett Asset Management LLC purchased a new stake in Shopify during the first quarter valued at about $34,000. Atlas Private Wealth Advisors purchased a new stake in Shopify during the second quarter valued at about $37,000. JNBA Financial Advisors purchased a new stake in Shopify during the second quarter valued at about $37,000. Finally, Selective Wealth Management Inc. purchased a new stake in Shopify during the second quarter valued at about $37,000. Institutional investors own 60.06% of the company’s stock.

A number of brokerages have recently issued reports on SHOP. Royal Bank of Canada increased their price target on shares of Shopify from $1,700.00 to $1,800.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. Roth Capital increased their price target on shares of Shopify from $1,750.00 to $1,800.00 and gave the stock a “buy” rating in a report on Thursday, July 29th. DA Davidson increased their price target on shares of Shopify from $1,275.00 to $1,450.00 and gave the stock a “neutral” rating in a report on Thursday, July 29th. Susquehanna raised their target price on shares of Shopify from $1,500.00 to $1,800.00 and gave the company a “positive” rating in a research note on Thursday, July 22nd. Finally, National Bankshares raised their target price on shares of Shopify from $1,650.00 to $2,000.00 and gave the company an “outperform” rating in a research note on Friday, July 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $1,635.59.

SHOP opened at $1,398.97 on Thursday. Shopify Inc. has a 1 year low of $875.00 and a 1 year high of $1,650.00. The stock has a 50-day moving average price of $1,465.16 and a 200-day moving average price of $1,359.17. The firm has a market cap of $174.54 billion, a PE ratio of 72.22, a P/E/G ratio of 13.58 and a beta of 1.45. The company has a debt-to-equity ratio of 0.10, a current ratio of 16.55 and a quick ratio of 16.55.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, July 28th. The software maker reported $2.24 EPS for the quarter, topping the consensus estimate of $0.23 by $2.01. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.04 billion. Shopify had a return on equity of 7.15% and a net margin of 63.65%. As a group, sell-side analysts anticipate that Shopify Inc. will post 3.95 EPS for the current year.

Shopify Profile

Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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