Blair William & Co. IL Has $57.75 Million Position in Shopify Inc. $SHOP

Blair William & Co. IL lifted its holdings in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,680 shares of the software maker's stock after acquiring an additional 4,852 shares during the period. Blair William & Co. IL's holdings in Shopify were worth $57,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SHOP. Hummer Financial Advisory Services Inc increased its position in Shopify by 3.8% in the second quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker's stock worth $299,000 after buying an additional 95 shares during the last quarter. Salem Investment Counselors Inc. lifted its position in shares of Shopify by 16.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 700 shares of the software maker's stock valued at $81,000 after buying an additional 100 shares during the last quarter. Quadcap Wealth Management LLC grew its stake in shares of Shopify by 0.9% during the 1st quarter. Quadcap Wealth Management LLC now owns 11,133 shares of the software maker's stock worth $1,063,000 after acquiring an additional 103 shares during the period. Centurion Wealth Management LLC increased its holdings in Shopify by 1.7% in the 2nd quarter. Centurion Wealth Management LLC now owns 6,339 shares of the software maker's stock worth $731,000 after acquiring an additional 103 shares during the last quarter. Finally, Fullcircle Wealth LLC raised its stake in Shopify by 2.7% in the 1st quarter. Fullcircle Wealth LLC now owns 4,240 shares of the software maker's stock valued at $418,000 after acquiring an additional 110 shares during the period. Institutional investors own 69.27% of the company's stock.

Shopify Price Performance

SHOP opened at $166.43 on Thursday. The firm has a market capitalization of $216.30 billion, a P/E ratio of 92.98, a price-to-earnings-growth ratio of 7.55 and a beta of 2.72. Shopify Inc. has a one year low of $69.84 and a one year high of $169.69. The company has a fifty day moving average price of $145.13 and a 200-day moving average price of $118.40.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the company earned $0.26 earnings per share. The firm's quarterly revenue was up 31.1% on a year-over-year basis. On average, analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. ATB Capital lowered shares of Shopify to a "sector perform" rating in a research report on Thursday, August 7th. Needham & Company LLC began coverage on shares of Shopify in a report on Monday, July 14th. They issued a "buy" rating and a $135.00 price objective for the company. Robert W. Baird boosted their target price on shares of Shopify from $160.00 to $170.00 and gave the company an "outperform" rating in a report on Tuesday. BMO Capital Markets increased their target price on Shopify from $120.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Mizuho lifted their price target on Shopify from $85.00 to $150.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Twenty-two analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $151.95.

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.

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