Shopify Inc. $SHOP Stake Boosted by Durable Capital Partners LP

Durable Capital Partners LP grew its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 8.2% during the 1st quarter, HoldingsChannel reports. The fund owned 4,275,819 shares of the software maker’s stock after acquiring an additional 325,471 shares during the period. Shopify accounts for 3.6% of Durable Capital Partners LP’s holdings, making the stock its 8th biggest position. Durable Capital Partners LP’s holdings in Shopify were worth $408,255,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Fourth Dimension Wealth LLC purchased a new position in shares of Shopify during the 4th quarter valued at $30,000. Smithfield Trust Co grew its holdings in shares of Shopify by 149.2% during the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock valued at $30,000 after acquiring an additional 188 shares in the last quarter. Dagco Inc. purchased a new position in shares of Shopify during the 1st quarter valued at $30,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Shopify by 86.8% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 355 shares of the software maker’s stock valued at $34,000 after acquiring an additional 165 shares in the last quarter. Finally, Accent Capital Management LLC purchased a new position in shares of Shopify during the 1st quarter valued at $46,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Down 0.2%

NYSE:SHOP opened at $141.28 on Monday. Shopify Inc. has a 12-month low of $65.86 and a 12-month high of $156.85. The firm has a market capitalization of $183.62 billion, a PE ratio of 91.15, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63. The firm has a 50-day moving average price of $127.97 and a 200 day moving average price of $110.43.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. Shopify had a net margin of 22.74% and a return on equity of 12.00%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the business posted $0.26 earnings per share. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. On average, research analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on SHOP shares. BNP Paribas Exane cut shares of Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price target on the stock. in a report on Monday, May 5th. BMO Capital Markets upped their price objective on shares of Shopify from $120.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Morgan Stanley upped their price objective on shares of Shopify from $106.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Arete reiterated a “neutral” rating on shares of Shopify in a report on Wednesday, July 23rd. Finally, Stifel Nicolaus upped their price objective on shares of Shopify from $110.00 to $150.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Twenty-four analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $150.27.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.