Munro Partners Buys New Stake in Shopify Inc. $SHOP

Munro Partners purchased a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 39,320 shares of the software maker’s stock, valued at approximately $4,532,000.

Other institutional investors have also modified their holdings of the company. Family Legacy Financial Solutions LLC purchased a new stake in shares of Shopify in the second quarter worth about $25,000. Rothschild Investment LLC lifted its holdings in Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Financial Gravity Companies Inc. purchased a new stake in Shopify in the 2nd quarter worth approximately $27,000. Tradewinds Capital Management LLC grew its stake in shares of Shopify by 71.4% during the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares during the period. Finally, Coastline Trust Co purchased a new position in shares of Shopify during the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 0.3%

Shares of SHOP opened at $164.19 on Friday. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19. The stock has a market cap of $213.75 billion, a PE ratio of 121.62, a price-to-earnings-growth ratio of 6.10 and a beta of 2.82. The firm’s fifty day moving average is $159.60 and its two-hundred day moving average is $139.79.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. As a group, research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SHOP shares. Benchmark reissued a “buy” rating on shares of Shopify in a report on Wednesday, December 3rd. BNP Paribas Exane initiated coverage on Shopify in a research report on Monday, November 24th. They set a “neutral” rating on the stock. Scotiabank lifted their price target on Shopify from $150.00 to $165.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 5th. UBS Group set a $195.00 price target on Shopify in a research report on Wednesday, December 3rd. Finally, National Bankshares boosted their price objective on Shopify from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Twenty-two equities research analysts have rated the stock with a Buy rating and twenty-three have given a Hold rating to the stock. According to MarketBeat.com, Shopify currently has an average rating of “Hold” and an average target price of $166.53.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.