TD Asset Management Inc. Has $68.64 Million Stake in Shopify Inc (SHOP)

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TD Asset Management Inc. cut its stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 3.7% in the 3rd quarter, Holdings Channel reports. The firm owned 417,913 shares of the software maker’s stock after selling 16,199 shares during the quarter. TD Asset Management Inc.’s holdings in Shopify were worth $68,643,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SHOP. Resources Investment Advisors Inc. increased its position in shares of Shopify by 10,257.1% during the second quarter. Resources Investment Advisors Inc. now owns 725 shares of the software maker’s stock valued at $106,000 after acquiring an additional 718 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in shares of Shopify during the second quarter valued at approximately $159,000. Captrust Financial Advisors increased its position in shares of Shopify by 643.3% during the second quarter. Captrust Financial Advisors now owns 1,115 shares of the software maker’s stock valued at $163,000 after acquiring an additional 965 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Shopify during the third quarter valued at approximately $205,000. Finally, Parallel Advisors LLC increased its position in shares of Shopify by 839.7% during the second quarter. Parallel Advisors LLC now owns 1,278 shares of the software maker’s stock valued at $186,000 after acquiring an additional 1,142 shares during the last quarter. 60.59% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE SHOP opened at $140.93 on Wednesday. Shopify Inc has a 1-year low of $92.41 and a 1-year high of $176.60. The firm has a market cap of $15.48 billion, a price-to-earnings ratio of -335.55 and a beta of 1.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.82 and a quick ratio of 11.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Thursday, October 25th. The software maker reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.34. Shopify had a negative return on equity of 4.26% and a negative net margin of 6.93%. The firm had revenue of $270.06 million during the quarter, compared to analyst estimates of $257.17 million. Analysts anticipate that Shopify Inc will post -0.63 earnings per share for the current year.

SHOP has been the subject of a number of research analyst reports. Rosenblatt Securities initiated coverage on Shopify in a research report on Tuesday, September 4th. They set a “buy” rating and a $188.00 price target for the company. Wedbush assumed coverage on Shopify in a report on Thursday, September 13th. They set an “outperform” rating and a $177.00 price objective for the company. Roth Capital reduced their price objective on Shopify from $192.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, August 1st. Guggenheim assumed coverage on Shopify in a report on Tuesday, August 7th. They set a “buy” rating and a $180.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on Shopify from $157.00 to $159.00 and gave the company a “sector perform” rating in a report on Saturday, October 27th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $166.59.

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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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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