Integrated Wealth Concepts LLC Has $3.79 Million Position in Shopify Inc. $SHOP

Integrated Wealth Concepts LLC raised its holdings in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,742 shares of the software maker's stock after buying an additional 2,251 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Shopify were worth $3,794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Shopify by 1.9% in the first quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker's stock valued at $4,563,106,000 after acquiring an additional 882,168 shares during the period. Mackenzie Financial Corp boosted its holdings in Shopify by 19.7% during the first quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker's stock valued at $822,745,000 after purchasing an additional 1,426,406 shares in the last quarter. Nuveen LLC bought a new stake in shares of Shopify in the 1st quarter valued at approximately $667,392,000. Canada Pension Plan Investment Board grew its stake in shares of Shopify by 34.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker's stock valued at $565,504,000 after purchasing an additional 1,522,573 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Shopify by 21.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker's stock worth $539,382,000 after buying an additional 979,598 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Stock Up 1.2%

Shopify stock opened at $146.82 on Monday. The stock has a 50-day simple moving average of $130.92 and a 200 day simple moving average of $110.96. Shopify Inc. has a 12-month low of $65.86 and a 12-month high of $156.85. The stock has a market capitalization of $190.82 billion, a price-to-earnings ratio of 94.72, a P/E/G ratio of 4.82 and a beta of 2.69.

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

Analyst Ratings Changes

A number of analysts have weighed in on SHOP shares. ATB Capital cut Shopify to a "sector perform" rating in a research report on Thursday, August 7th. Cantor Fitzgerald set a $156.00 price objective on Shopify and gave the company a "neutral" rating in a report on Wednesday, August 27th. CIBC lifted their price objective on Shopify from $145.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Barclays lifted their price objective on Shopify from $94.00 to $120.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, UBS Group lifted their price objective on Shopify from $110.00 to $145.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Twenty-four investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Shopify currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.27.

Shopify 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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