TD Asset Management Inc. Raises Holdings in Shopify Inc (SHOP)

TD Asset Management Inc. raised its stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 1.4% in the first quarter, HoldingsChannel.com reports. The firm owned 414,436 shares of the software maker’s stock after acquiring an additional 5,873 shares during the period. TD Asset Management Inc.’s holdings in Shopify were worth $85,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of SHOP. Capital Financial Planning LLC acquired a new position in shares of Shopify in the 4th quarter valued at $26,000. We Are One Seven LLC acquired a new position in shares of Shopify in the 4th quarter valued at $27,000. Murphy Pohlad Asset Management LLC acquired a new position in shares of Shopify in the 4th quarter valued at $27,000. Optimum Investment Advisors acquired a new position in shares of Shopify in the 4th quarter valued at $28,000. Finally, Quad Cities Investment Group LLC acquired a new position in shares of Shopify in the 4th quarter valued at $28,000. 67.14% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE SHOP traded up $4.34 during midday trading on Tuesday, reaching $271.53. The company’s stock had a trading volume of 654,283 shares, compared to its average volume of 1,629,308. The company has a quick ratio of 12.57, a current ratio of 12.56 and a debt-to-equity ratio of 0.05. Shopify Inc has a fifty-two week low of $117.64 and a fifty-two week high of $279.48. The company has a market capitalization of $29.90 billion, a PE ratio of -445.14 and a beta of 1.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.44. Shopify had a negative net margin of 6.17% and a negative return on equity of 3.74%. The company had revenue of $320.50 million for the quarter, compared to the consensus estimate of $310.11 million. During the same period last year, the company earned $0.04 earnings per share. The firm’s revenue was up 49.6% compared to the same quarter last year. As a group, sell-side analysts expect that Shopify Inc will post -0.86 EPS for the current year.

A number of brokerages have recently issued reports on SHOP. DA Davidson increased their price objective on shares of Shopify from $210.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. SunTrust Banks increased their target price on shares of Shopify to $245.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Robert W. Baird increased their target price on shares of Shopify from $165.00 to $188.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 13th. Rosenblatt Securities increased their target price on shares of Shopify from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, February 14th. Finally, Roth Capital increased their target price on shares of Shopify from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $237.71.

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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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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