Shopify Inc. $SHOP Shares Purchased by Addenda Capital Inc.

Addenda Capital Inc. lifted its position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 11.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 798,719 shares of the software maker's stock after purchasing an additional 81,528 shares during the quarter. Shopify accounts for 3.1% of Addenda Capital Inc.'s portfolio, making the stock its 6th largest position. Addenda Capital Inc. owned about 0.06% of Shopify worth $91,198,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHOP. Smartleaf Asset Management LLC raised its position in Shopify by 13.9% in the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker's stock worth $72,000 after purchasing an additional 77 shares in the last quarter. Parr Mcknight Wealth Management Group LLC lifted its holdings in Shopify by 3.1% during the 1st quarter. Parr Mcknight Wealth Management Group LLC now owns 2,762 shares of the software maker's stock valued at $328,000 after purchasing an additional 84 shares during the last quarter. Founders Financial Alliance LLC raised its stake in shares of Shopify by 5.2% in the fourth quarter. Founders Financial Alliance LLC now owns 1,768 shares of the software maker's stock valued at $285,000 after acquiring an additional 87 shares during the last quarter. Caerus Investment Advisors LLC raised its stake in shares of Shopify by 5.6% in the first quarter. Caerus Investment Advisors LLC now owns 1,688 shares of the software maker's stock valued at $200,000 after acquiring an additional 90 shares during the last quarter. Finally, Canvas Wealth Advisors LLC boosted its holdings in shares of Shopify by 1.1% in the 2nd quarter. Canvas Wealth Advisors LLC now owns 8,356 shares of the software maker's stock worth $954,000 after acquiring an additional 93 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

Shares of SHOP opened at $152.90 on Monday. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 0.01. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The stock has a market cap of $196.73 billion, a P/E ratio of 103.31, a price-to-earnings-growth ratio of 3.12 and a beta of 2.58. The stock's 50-day moving average price is $130.97 and its two-hundred day moving average price is $121.79.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The company had revenue of $3.58 billion during the quarter. Shopify had a return on equity of 12.58% and a net margin of 14.53%.The business's revenue was up 33.7% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. On average, equities analysts predict that Shopify Inc. will post 1.45 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on SHOP shares. The Goldman Sachs Group boosted their price objective on Shopify from $170.00 to $194.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Rosenblatt Securities assumed coverage on shares of Shopify in a research report on Thursday, August 20th. They set a "buy" rating and a $175.00 target price on the stock. Phillip Securities cut shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, August 17th. Barclays set a $145.00 price objective on Shopify and gave the stock an "equal weight" rating in a report on Thursday, August 6th. Finally, Morgan Stanley lowered shares of Shopify from an "overweight" rating to a "buy" rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $170.84.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.

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