ETRADE Capital Management LLC Has $938,000 Position in Shopify Inc (NYSE:SHOP)

ETRADE Capital Management LLC grew its holdings in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 13.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,250 shares of the software maker’s stock after purchasing an additional 270 shares during the quarter. ETRADE Capital Management LLC’s holdings in Shopify were worth $938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Pacifica Partners Inc. acquired a new position in shares of Shopify in the 4th quarter valued at about $29,000. Squar Milner Financial Services LLC lifted its stake in shares of Shopify by 102.5% in the 1st quarter. Squar Milner Financial Services LLC now owns 81 shares of the software maker’s stock valued at $33,000 after purchasing an additional 41 shares during the period. Sugarloaf Wealth Management LLC acquired a new position in shares of Shopify in the 4th quarter valued at about $34,000. Key Financial Inc bought a new stake in Shopify in the 1st quarter valued at about $34,000. Finally, PrairieView Partners LLC bought a new stake in Shopify in the 1st quarter valued at about $38,000. 57.84% of the stock is currently owned by institutional investors.

Shopify stock opened at $825.17 on Friday. Shopify Inc has a 12 month low of $262.17 and a 12 month high of $826.38. The company has a current ratio of 9.45, a quick ratio of 9.45 and a debt-to-equity ratio of 0.04. The business’s 50 day simple moving average is $595.63 and its 200 day simple moving average is $456.64.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.70) by $0.89. Shopify had a negative return on equity of 2.56% and a negative net margin of 7.65%. The business had revenue of $470.00 million for the quarter, compared to the consensus estimate of $442.92 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. Shopify’s revenue for the quarter was up 46.6% on a year-over-year basis. Sell-side analysts expect that Shopify Inc will post -2.26 earnings per share for the current fiscal year.

A number of brokerages recently commented on SHOP. Barclays boosted their target price on Shopify from $410.00 to $725.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Oppenheimer began coverage on Shopify in a research report on Wednesday, May 6th. They issued a “hold” rating for the company. Jefferies Financial Group boosted their price objective on Shopify from $400.00 to $725.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Mizuho boosted their price objective on Shopify from $350.00 to $600.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. They noted that the move was a valuation call. Finally, Robert W. Baird reissued a “buy” rating on shares of Shopify in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $620.22.

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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