Shopify Sees Unusually Large Options Volume (NYSE:SHOP)

Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP was the target of some unusual options trading activity on Friday. Stock traders bought 107,136 call options on the company. This represents an increase of approximately 46% compared to the typical volume of 73,332 call options.

Shopify Stock Down 5.6 %

SHOP traded down $3.49 during midday trading on Friday, hitting $58.96. The company had a trading volume of 30,637,877 shares, compared to its average volume of 10,176,729. Shopify has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $75.86 billion, a price-to-earnings ratio of 655.11 and a beta of 2.20. The stock's 50 day moving average price is $74.20 and its 200 day moving average price is $73.63.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. On average, research analysts anticipate that Shopify will post 0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHOP. Private Wealth Management Group LLC purchased a new position in Shopify during the fourth quarter worth about $26,000. SJS Investment Consulting Inc. boosted its stake in Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker's stock valued at $27,000 after acquiring an additional 130 shares during the last quarter. DSM Capital Partners LLC purchased a new position in Shopify in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp purchased a new position in Shopify in the fourth quarter valued at about $28,000. Finally, Your Advocates Ltd. LLP boosted its stake in Shopify by 4,344.4% in the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker's stock valued at $31,000 after acquiring an additional 391 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BNP Paribas raised shares of Shopify from an "underperform" rating to an "outperform" rating in a research note on Thursday, May 2nd. Royal Bank of Canada reduced their target price on shares of Shopify from $100.00 to $85.00 and set an "outperform" rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Shopify from $95.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday. Roth Capital increased their price objective on shares of Shopify from $85.00 to $89.00 and gave the stock a "buy" rating in a research note on Wednesday, February 14th. Finally, ATB Capital increased their price objective on shares of Shopify from $105.00 to $110.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $76.86.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.