Weaver Consulting Group Has $38,000 Holdings in Shopify Inc (NYSE:SHOP)

Share on StockTwits

Weaver Consulting Group lessened its holdings in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 28.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125 shares of the software maker’s stock after selling 50 shares during the period. Weaver Consulting Group’s holdings in Shopify were worth $38,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. GWM Advisors LLC lifted its holdings in shares of Shopify by 2.9% during the 2nd quarter. GWM Advisors LLC now owns 1,902 shares of the software maker’s stock worth $571,000 after acquiring an additional 54 shares during the period. K.J. Harrison & Partners Inc bought a new position in Shopify in the 2nd quarter valued at approximately $225,000. Rudd International Inc. bought a new position in Shopify in the 2nd quarter valued at approximately $549,000. Institute for Wealth Management LLC. bought a new position in Shopify in the 2nd quarter valued at approximately $257,000. Finally, Hillsdale Investment Management Inc. bought a new position in Shopify in the 2nd quarter valued at approximately $5,315,000. Hedge funds and other institutional investors own 64.02% of the company’s stock.

Shares of SHOP traded up $5.62 during trading hours on Monday, hitting $364.36. 887,666 shares of the stock were exchanged, compared to its average volume of 1,991,046. Shopify Inc has a fifty-two week low of $117.64 and a fifty-two week 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. The business has a 50-day moving average of $329.44 and a 200-day moving average of $255.78. The firm has a market capitalization of $39.16 billion, a P/E ratio of -597.31 and a beta of 1.30.

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

SHOP has been the subject of several research reports. Morgan Stanley downgraded shares of Shopify from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $173.00 to $209.00 in a research note on Tuesday, May 14th. They noted that the move was a valuation call. KeyCorp increased their price objective on shares of Shopify from $350.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Mackie upped their price target on shares of Shopify from $280.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Rosenblatt Securities restated a “buy” rating and issued a $410.00 price target on shares of Shopify in a research report on Friday, August 2nd. Finally, Robert W. Baird upped their price target on shares of Shopify from $360.00 to $370.00 in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $327.00.

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.

Featured Story: Catch-Up Contributions

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc (NYSE:SHOP) (TSE:SHOP).

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.