Banque Transatlantique SA Boosts Stock Position in Shopify Inc. $SHOP

Key Points

• Banque Transatlantique SA increased its holdings in Shopify Inc. by 121.4% during the first quarter, acquiring a total of 9,300 shares valued at $819,000.
• Several hedge funds have also boosted their positions in Shopify, with Alliancebernstein L.P. increasing its shares by 24.6%, now holding shares worth approximately $530 million.
• Shopify reported earnings of $0.35 EPS for the last quarter, exceeding analysts' expectations, and had a strong revenue growth of 31.1% year-over-year.

Banque Transatlantique SA lifted its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 121.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,300 shares of the software maker's stock after acquiring an additional 5,100 shares during the quarter. Banque Transatlantique SA's holdings in Shopify were worth $819,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its holdings in Shopify by 24.6% during the first quarter. Alliancebernstein L.P. now owns 5,554,420 shares of the software maker's stock valued at $530,336,000 after purchasing an additional 1,094,840 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker's stock valued at $1,392,000 after buying an additional 7,544 shares in the last quarter. Ardsley Advisory Partners LP bought a new position in Shopify in the 1st quarter worth $3,881,000. Atalanta Sosnoff Capital LLC increased its stake in Shopify by 9.3% in the 1st quarter. Atalanta Sosnoff Capital LLC now owns 131,823 shares of the software maker's stock worth $12,586,000 after buying an additional 11,177 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Shopify by 2.1% during the first quarter. Advisors Asset Management Inc. now owns 365,070 shares of the software maker's stock valued at $34,857,000 after acquiring an additional 7,533 shares during the period. Institutional investors own 69.27% of the company's stock.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of recent analyst reports. Bank of America upped their price objective on Shopify from $110.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Oppenheimer upped their price target on Shopify from $145.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Arete Research raised shares of Shopify to a "hold" rating in a report on Wednesday, July 23rd. TD Securities lifted their price objective on shares of Shopify from $145.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Atb Cap Markets cut Shopify from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 6th. Twenty-four equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.27.

Shopify Trading Down 1.7%

Shares of NYSE SHOP traded down $2.46 during trading hours on Tuesday, hitting $143.76. 2,684,867 shares of the company traded hands, compared to its average volume of 9,990,372. The company's 50 day moving average price is $131.54 and its 200 day moving average price is $111.18. Shopify Inc. has a 12 month low of $66.95 and a 12 month high of $156.85. The stock has a market capitalization of $186.83 billion, a price-to-earnings ratio of 92.74, a price-to-earnings-growth ratio of 4.82 and a beta of 2.69.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. Shopify had a net margin of 22.74% and a return on equity of 12.00%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. Shopify's quarterly revenue was up 31.1% compared to the same quarter last year. Equities analysts anticipate that Shopify Inc. will post 1.12 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.