Shopify Inc. (NYSE:SHOP) Shares Sold by Toroso Investments LLC

Toroso Investments LLC lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 14.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,283 shares of the software maker’s stock after selling 211 shares during the period. Toroso Investments LLC’s holdings in Shopify were worth $1,874,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. DORCHESTER WEALTH MANAGEMENT Co lifted its position in shares of Shopify by 1.9% in the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 373 shares of the software maker’s stock valued at $546,000 after acquiring an additional 7 shares in the last quarter. Terra Nova Asset Management LLC lifted its position in Shopify by 0.6% during the second quarter. Terra Nova Asset Management LLC now owns 1,365 shares of the software maker’s stock worth $1,994,000 after buying an additional 8 shares during the period. JGP Wealth Management LLC increased its stake in Shopify by 2.1% during the second quarter. JGP Wealth Management LLC now owns 387 shares of the software maker’s stock worth $566,000 after acquiring an additional 8 shares during the last quarter. Mayflower Financial Advisors LLC increased its stake in Shopify by 1.7% during the second quarter. Mayflower Financial Advisors LLC now owns 536 shares of the software maker’s stock worth $783,000 after acquiring an additional 9 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its stake in Shopify by 1.9% during the second quarter. Checchi Capital Advisers LLC now owns 495 shares of the software maker’s stock worth $723,000 after acquiring an additional 9 shares during the last quarter. 60.06% of the stock is currently owned by institutional investors.

Several equities research analysts have commented on the company. DA Davidson upped their price target on Shopify from $1,275.00 to $1,450.00 and gave the stock a “neutral” rating in a research note on Thursday, July 29th. TD Securities initiated coverage on Shopify in a research note on Thursday. They issued a “hold” rating for the company. Susquehanna increased their target price on Shopify from $1,500.00 to $1,800.00 and gave the company a “positive” rating in a research note on Thursday, July 22nd. Argus increased their target price on Shopify from $1,650.00 to $1,850.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Finally, Royal Bank of Canada increased their target price on Shopify from $1,700.00 to $1,800.00 and gave the company an “outperform” rating in a research note on Friday, July 23rd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $1,635.59.

Shopify stock opened at $1,398.97 on Thursday. The business’s 50-day simple moving average is $1,465.16 and its 200-day simple moving average is $1,359.17. Shopify Inc. has a 52 week low of $875.00 and a 52 week high of $1,650.00. The firm has a market capitalization of $174.54 billion, a PE ratio of 72.22, a PEG ratio of 13.58 and a beta of 1.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 16.55 and a current ratio of 16.55.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, July 28th. The software maker reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $2.01. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.04 billion. Shopify had a return on equity of 7.15% and a net margin of 63.65%. Research analysts forecast that Shopify Inc. will post 3.95 earnings per share 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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