Rudd International Inc. Purchases Shares of 1,830 Shopify Inc (NYSE:SHOP)

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Rudd International Inc. purchased a new stake in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,830 shares of the software maker’s stock, valued at approximately $549,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Institute for Wealth Management LLC. bought a new stake in shares of Shopify in the second quarter valued at about $257,000. Hillsdale Investment Management Inc. bought a new stake in shares of Shopify in the second quarter valued at about $5,315,000. Swiss National Bank lifted its stake in shares of Shopify by 15.3% in the second quarter. Swiss National Bank now owns 362,400 shares of the software maker’s stock valued at $108,910,000 after buying an additional 48,200 shares during the period. Comerica Bank lifted its stake in shares of Shopify by 1.5% in the second quarter. Comerica Bank now owns 9,238 shares of the software maker’s stock valued at $3,005,000 after buying an additional 136 shares during the period. Finally, Benedict Financial Advisors Inc. bought a new stake in shares of Shopify in the second quarter valued at about $224,000. Institutional investors own 65.72% of the company’s stock.

A number of brokerages have commented on SHOP. Robert W. Baird raised their price target on shares of Shopify from $360.00 to $370.00 in a research note on Thursday, August 1st. Piper Jaffray Companies raised their price target on shares of Shopify from $286.00 to $320.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. William Blair restated a “market perform” rating on shares of Shopify in a research note on Thursday, August 1st. SunTrust Banks raised their price target on shares of Shopify to $245.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Finally, Roth Capital set a $300.00 price target on shares of Shopify and gave the stock a “hold” rating in a research note on Sunday, July 21st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. Shopify currently has a consensus rating of “Hold” and an average price target of $327.00.

Shares of NYSE SHOP traded up $7.67 during midday trading on Friday, reaching $358.74. 1,304,400 shares of the stock were exchanged, compared to its average volume of 1,991,046. The business has a 50-day simple moving average of $329.44 and a two-hundred day simple moving average of $255.78. The company has a market capitalization of $39.16 billion, a price-to-earnings ratio of -588.10 and a beta of 1.30. Shopify Inc has a 12 month low of $117.64 and a 12 month high of $372.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 11.44 and a quick ratio of 11.44.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.45. The company had revenue of $361.98 million for the quarter, compared to analysts’ expectations of $350.59 million. Shopify had a negative net margin of 5.98% and a negative return on equity of 3.85%. The business’s quarterly revenue was up 47.8% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share. Equities research analysts expect that Shopify Inc will post -0.82 earnings per share for the current fiscal year.

About Shopify

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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