Shopify Inc. $SHOP Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. lessened its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 6.8% during the second quarter, HoldingsChannel reports. The firm owned 301,443 shares of the software maker’s stock after selling 21,832 shares during the period. Hantz Financial Services Inc.’s holdings in Shopify were worth $34,771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SHOP. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Shopify by 4.4% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,231,257 shares of the software maker’s stock worth $603,425,000 after acquiring an additional 218,829 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Shopify by 171.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock worth $48,827,000 after acquiring an additional 267,271 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Shopify by 9.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 400,389 shares of the software maker’s stock worth $46,185,000 after acquiring an additional 35,113 shares in the last quarter. ARK Investment Management LLC lifted its stake in shares of Shopify by 13.6% in the second quarter. ARK Investment Management LLC now owns 5,049,508 shares of the software maker’s stock worth $582,461,000 after acquiring an additional 605,283 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of Shopify by 32.6% in the second quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker’s stock worth $1,570,000 after acquiring an additional 3,347 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SHOP. Stifel Nicolaus boosted their price target on Shopify from $110.00 to $150.00 and gave the stock a “hold” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on Shopify from $115.00 to $179.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. JMP Securities upped their price objective on Shopify from $135.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Oppenheimer restated an “outperform” rating and set a $200.00 price objective (up previously from $180.00) on shares of Shopify in a research note on Tuesday. Finally, Arete restated a “neutral” rating on shares of Shopify in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.68.

Shopify Trading Up 0.0%

NASDAQ:SHOP opened at $179.01 on Thursday. The firm has a market capitalization of $232.65 billion, a PE ratio of 100.01, a price-to-earnings-growth ratio of 8.38 and a beta of 2.72. The stock has a 50 day moving average of $152.20 and a 200-day moving average of $126.31. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The business’s revenue was up 31.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 earnings per share. As a group, analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Shopify Profile

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.