Greystone Managed Investments Inc. reduced its holdings in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,171 shares of the software maker’s stock after selling 1,162 shares during the quarter. Greystone Managed Investments Inc.’s holdings in Shopify were worth $11,496,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SHOP. Financial Advocates Investment Management increased its holdings in shares of Shopify by 4.2% during the fourth quarter. Financial Advocates Investment Management now owns 3,873 shares of the software maker’s stock valued at $536,000 after acquiring an additional 155 shares in the last quarter. Henry James International Management Inc. increased its holdings in shares of Shopify by 140.7% during the first quarter. Henry James International Management Inc. now owns 33,947 shares of the software maker’s stock valued at $7,014,000 after acquiring an additional 19,846 shares in the last quarter. Weaver Consulting Group bought a new stake in shares of Shopify during the first quarter valued at approximately $54,000. Bollard Group LLC increased its holdings in shares of Shopify by 28.5% during the first quarter. Bollard Group LLC now owns 26,150 shares of the software maker’s stock valued at $5,403,000 after acquiring an additional 5,800 shares in the last quarter. Finally, B. Riley Wealth Management Inc. increased its holdings in shares of Shopify by 21.4% during the first quarter. B. Riley Wealth Management Inc. now owns 3,897 shares of the software maker’s stock valued at $805,000 after acquiring an additional 688 shares in the last quarter. Institutional investors and hedge funds own 67.81% of the company’s stock.

Several brokerages recently issued reports on SHOP. Piper Jaffray Companies reiterated a “buy” rating on shares of Beigene in a report on Thursday, June 20th. Jefferies Financial Group raised Salvatore Ferragamo Italia from an “underperform” rating to a “hold” rating in a research report on Wednesday, June 26th. Royal Bank of Canada reissued an “outperform” rating on shares of in a research report on Friday, June 21st. Goldman Sachs Group began coverage on HubSpot in a research report on Friday, June 7th. They issued a “buy” rating and a $223.00 price objective on the stock. Finally, Roth Capital set a $8.00 price objective on Meet Group and gave the stock a “buy” rating in a research report on Sunday, July 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Shopify has an average rating of “Buy” and a consensus price target of $304.25.

NYSE SHOP traded down $19.56 during trading on Monday, reaching $316.98. The company’s stock had a trading volume of 115,263 shares, compared to its average volume of 1,595,423. The company has a market capitalization of $37.54 billion, a PE ratio of -519.89 and a beta of 1.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 12.56 and a quick ratio of 12.57. The stock has a fifty day moving average of $314.82. Shopify Inc has a one year low of $117.64 and a one year high of $340.84.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, April 30th. The software maker reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.44. The business had revenue of $320.50 million for the quarter, compared to analyst estimates of $310.11 million. Shopify had a negative return on equity of 3.74% and a negative net margin of 6.17%. The company’s quarterly revenue was up 49.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. As a group, equities analysts forecast that Shopify Inc will post -0.78 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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