Shopify Inc. (NYSE:SHOP) Shares Acquired by Claraphi Advisory Network LLC

Claraphi Advisory Network LLC lifted its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 85.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 819 shares of the software maker’s stock after acquiring an additional 377 shares during the period. Claraphi Advisory Network LLC’s holdings in Shopify were worth $1,197,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SHOP. Envestnet Asset Management Inc. raised its holdings in Shopify by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 108,486 shares of the software maker’s stock worth $158,495,000 after purchasing an additional 2,412 shares during the last quarter. Moors & Cabot Inc. raised its holdings in Shopify by 5.8% during the second quarter. Moors & Cabot Inc. now owns 1,492 shares of the software maker’s stock worth $2,180,000 after purchasing an additional 82 shares during the last quarter. Tudor Investment Corp Et Al raised its holdings in Shopify by 84.5% during the first quarter. Tudor Investment Corp Et Al now owns 3,662 shares of the software maker’s stock worth $4,052,000 after purchasing an additional 1,677 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Shopify by 54.5% during the second quarter. Advisors Asset Management Inc. now owns 20,510 shares of the software maker’s stock worth $29,965,000 after purchasing an additional 7,233 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new position in Shopify during the first quarter worth $55,000. Hedge funds and other institutional investors own 60.06% of the company’s stock.

A number of research firms have recently weighed in on SHOP. TD Securities began coverage on Shopify in a report on Thursday, October 14th. They issued a “hold” rating for the company. Credit Suisse Group boosted their price target on Shopify from $1,400.00 to $1,700.00 and gave the stock a “neutral” rating in a report on Thursday, July 29th. Guggenheim reissued a “hold” rating on shares of Shopify in a report on Friday, August 27th. Wedbush boosted their price target on Shopify from $1,650.00 to $1,800.00 and gave the stock an “outperform” rating in a report on Thursday, July 29th. Finally, TheStreet downgraded Shopify from a “b-” rating to a “c+” rating in a research report on Tuesday, September 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Shopify has a consensus rating of “Buy” and a consensus price target of $1,633.05.

NYSE SHOP traded down $21.60 on Wednesday, hitting $1,342.10. 33,916 shares of the stock traded hands, compared to its average volume of 1,242,820. The stock has a 50-day moving average of $1,456.66 and a 200 day moving average of $1,370.26. Shopify Inc. has a twelve month low of $875.00 and a twelve month high of $1,650.00. The company has a market capitalization of $167.44 billion, a P/E ratio of 69.94, a price-to-earnings-growth ratio of 13.58 and a beta of 1.45. The company has a current ratio of 16.55, a quick ratio of 16.55 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, July 28th. The software maker reported $2.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $2.01. Shopify had a return on equity of 7.15% and a net margin of 63.65%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.04 billion. As a group, equities research analysts expect that Shopify Inc. will post 3.95 earnings per share for the current year.

Shopify Profile

Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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