48,201 Shares in Shopify (SHOP) Purchased by Seven Eight Capital LP

Seven Eight Capital LP purchased a new position in shares of Shopify (NYSE:SHOP) (TSE:SHOP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 48,201 shares of the software maker’s stock, valued at approximately $6,005,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fusion Family Wealth LLC boosted its holdings in 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 buying an additional 429 shares in the last quarter. Quinn Opportunity Partners LLC boosted its holdings in Shopify by 14.3% during the fourth quarter. Quinn Opportunity Partners LLC now owns 4,000 shares of the software maker’s stock worth $404,000 after buying an additional 500 shares in the last quarter. Roundview Capital LLC lifted its holdings in Shopify by 11.0% during the first quarter. Roundview Capital LLC now owns 5,765 shares of the software maker’s stock valued at $718,000 after purchasing an additional 570 shares in the last quarter. QS Investors LLC lifted its holdings in Shopify by 25.9% during the fourth quarter. QS Investors LLC now owns 3,039 shares of the software maker’s stock valued at $307,000 after purchasing an additional 625 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Shopify by 63.8% during the fourth quarter. US Bancorp DE now owns 1,889 shares of the software maker’s stock valued at $191,000 after purchasing an additional 736 shares in the last quarter. 57.44% of the stock is currently owned by hedge funds and other institutional investors.

SHOP has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Shopify from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. KeyCorp increased their price objective on shares of Shopify from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, March 22nd. Mackie set a $170.00 price objective on shares of Shopify and gave the company a “buy” rating in a report on Wednesday, May 2nd. National Bank Financial increased their price objective on shares of Shopify from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, ValuEngine raised shares of Shopify from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Eleven research 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 has an average rating of “Buy” and a consensus price target of $135.86.

Shares of Shopify opened at $165.36 on Thursday, according to MarketBeat.com. The stock has a market capitalization of $17.01 billion, a PE ratio of -393.71 and a beta of 1.31. The company has a quick ratio of 14.88, a current ratio of 14.88 and a debt-to-equity ratio of 0.01. Shopify has a 52 week low of $81.55 and a 52 week high of $165.77.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, May 1st. The software maker reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.27. The business had revenue of $214.30 million during the quarter, compared to analysts’ expectations of $202.35 million. Shopify had a negative net margin of 5.56% and a negative return on equity of 3.67%. The company’s quarterly revenue was up 68.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) earnings per share. equities research analysts predict that Shopify will post -0.82 EPS for the current fiscal year.

About Shopify

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.

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.

Leave a Reply