Comerica Bank reduced its position in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 8.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,471 shares of the software maker’s stock after selling 767 shares during the quarter. Comerica Bank’s holdings in Shopify were worth $2,739,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. First Trust Advisors LP grew its position in shares of Shopify by 15.6% in the 1st quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock valued at $723,000 after purchasing an additional 472 shares during the period. Calton & Associates Inc. acquired a new position in shares of Shopify in the 2nd quarter valued at approximately $216,000. Valeo Financial Advisors LLC grew its position in shares of Shopify by 39.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 191 shares of the software maker’s stock valued at $57,000 after purchasing an additional 54 shares during the period. CENTRAL TRUST Co grew its position in shares of Shopify by 44.3% in the 2nd quarter. CENTRAL TRUST Co now owns 303 shares of the software maker’s stock valued at $95,000 after purchasing an additional 93 shares during the period. Finally, Welch & Forbes LLC grew its position in shares of Shopify by 3.4% in the 2nd quarter. Welch & Forbes LLC now owns 1,500 shares of the software maker’s stock valued at $450,000 after purchasing an additional 50 shares during the period. 58.43% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the company. ValuEngine lowered Shopify from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Rosenblatt Securities reiterated a “buy” rating and issued a $481.00 price objective on shares of Shopify in a research report on Wednesday, October 30th. Jefferies Financial Group set a $300.00 target price on Shopify and gave the company a “hold” rating in a research note on Tuesday, September 10th. Credit Suisse Group restated a “buy” rating and issued a $370.00 target price on shares of Shopify in a research note on Wednesday, September 11th. Finally, CIBC set a $350.00 target price on Shopify and gave the company a “hold” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $335.88.
SHOP traded up $21.34 during trading hours on Wednesday, reaching $372.00. The company’s stock had a trading volume of 5,604,399 shares, compared to its average volume of 1,964,704. The firm has a market cap of $38.84 billion, a PE ratio of -609.84 and a beta of 1.18. Shopify Inc has a 52 week low of $117.64 and a 52 week high of $409.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.21 and a current ratio of 11.21. The company’s 50-day moving average is $317.85 and its 200-day moving average is $323.92.
Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, October 29th. The software maker reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.08. The company had revenue of $390.55 million for the quarter, compared to analyst estimates of $384.05 million. Shopify had a negative return on equity of 3.36% and a negative net margin of 8.97%. Equities analysts anticipate that Shopify Inc will post -1.21 earnings per share for the current fiscal year.
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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