Shopify Inc (NYSE:SHOP) Stake Lessened by Montrusco Bolton Investments Inc.

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Montrusco Bolton Investments Inc. lessened its stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,132 shares of the software maker’s stock after selling 237 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Shopify were worth $1,245,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Rudd International Inc. bought a new stake in shares of Shopify in the second quarter worth $549,000. Institute for Wealth Management LLC. bought a new stake in Shopify during the second quarter valued at $257,000. Hillsdale Investment Management Inc. bought a new stake in Shopify during the second quarter valued at $5,315,000. Swiss National Bank increased its stake in Shopify by 15.3% during the second quarter. Swiss National Bank now owns 362,400 shares of the software maker’s stock valued at $108,910,000 after purchasing an additional 48,200 shares during the last quarter. Finally, Comerica Bank increased its stake in Shopify by 1.5% during the second quarter. Comerica Bank now owns 9,238 shares of the software maker’s stock valued at $3,005,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 64.02% of the company’s stock.

Several research firms have weighed in on SHOP. CIBC lowered shares of Shopify from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $260.00 to $350.00 in a research note on Thursday, June 20th. They noted that the move was a valuation call. Roth Capital set a $300.00 target price on shares of Shopify and gave the company a “hold” rating in a research note on Sunday, July 21st. CSFB boosted their target price on shares of Shopify from $275.00 to $370.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Robert W. Baird boosted their target price on shares of Shopify from $360.00 to $370.00 in a research note on Thursday, August 1st. Finally, UBS Group boosted their target price on shares of Shopify from $295.00 to $395.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $327.00.

Shares of Shopify stock traded up $5.69 during trading on Monday, hitting $364.43. 23,044 shares of the stock were exchanged, compared to its average volume of 1,991,046. The stock’s fifty day moving average is $329.44 and its 200 day moving average is $255.78. The stock has a market cap of $39.16 billion, a PE ratio of -597.43 and a beta of 1.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 11.44 and a current ratio of 11.44. Shopify Inc has a 12 month low of $117.64 and a 12 month high of $372.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Thursday, August 1st. The software maker reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.31) by $0.45. The business had revenue of $361.98 million during the quarter, compared to analyst estimates of $350.59 million. Shopify had a negative net margin of 5.98% and a negative return on equity of 3.85%. The company’s quarterly revenue was up 47.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 earnings per share. Sell-side analysts anticipate that Shopify Inc will post -0.82 EPS for the current fiscal year.

Shopify Company 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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