WINTON GROUP Ltd Takes $1.81 Million Position in Shopify Inc. (NYSE:SHOP)

WINTON GROUP Ltd purchased a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 27,441 shares of the software maker’s stock, valued at approximately $1,812,000.

Several other hedge funds have also made changes to their positions in SHOP. DSM Capital Partners LLC bought a new position in Shopify in the 4th quarter worth about $28,000. Jones Financial Companies Lllp bought a new stake in shares of Shopify during the fourth quarter valued at approximately $28,000. Cultivar Capital Inc. acquired a new position in shares of Shopify during the second quarter worth approximately $33,000. Hazlett Burt & Watson Inc. bought a new position in Shopify in the 2nd quarter worth approximately $33,000. Finally, OLD Point Trust & Financial Services N A acquired a new stake in Shopify in the 4th quarter valued at approximately $39,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of analyst reports. Wedbush reiterated a “neutral” rating and set a $72.00 price target (up previously from $68.00) on shares of Shopify in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Shopify in a report on Thursday, August 8th. Citigroup lowered their target price on shares of Shopify from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price target on shares of Shopify in a research note on Tuesday, September 10th. Finally, Truist Financial decreased their price objective on shares of Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $77.37.

Shopify Stock Up 1.6 %

SHOP stock opened at $72.45 on Monday. The company has a 50 day moving average of $67.38 and a two-hundred day moving average of $68.30. The company has a market cap of $93.36 billion, a price-to-earnings ratio of -426.18, a PEG ratio of 2.39 and a beta of 2.35. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the firm earned ($0.08) earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Shopify Company Profile

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.