Shopify Inc. (NYSE:SHOP) Stock Holdings Trimmed by Lazari Capital Management Inc.

Lazari Capital Management Inc. lessened its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 6,230 shares of the software maker’s stock after selling 217 shares during the quarter. Lazari Capital Management Inc.’s holdings in Shopify were worth $499,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital World Investors raised its holdings in Shopify by 26.2% during the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Shopify by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after purchasing an additional 713,064 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Shopify by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after buying an additional 5,982,434 shares in the last quarter. GQG Partners LLC lifted its holdings in shares of Shopify by 197.9% in the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after buying an additional 13,885,473 shares during the period. Finally, Capital International Investors lifted its holdings in Shopify by 3.4% in the 1st quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock valued at $1,264,982,000 after acquiring an additional 542,503 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Morgan Stanley lifted their price target on shares of Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. KeyCorp began coverage on Shopify in a report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 target price on the stock. Evercore ISI increased their price target on Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Wells Fargo & Company lifted their price target on Shopify from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price objective on shares of Shopify in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $79.36.

Shopify Price Performance

NYSE SHOP opened at $81.57 on Wednesday. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. The company has a fifty day simple moving average of $76.78 and a 200 day simple moving average of $68.92. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The company has a market cap of $105.12 billion, a P/E ratio of 83.23, a P/E/G ratio of 2.77 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results 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. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) earnings per share. On average, sell-side analysts predict that Shopify Inc. will post 0.76 EPS for the current year.

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.