Scotia Capital Inc. lessened its stake in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 32.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,679 shares of the software maker’s stock after selling 14,416 shares during the quarter. Scotia Capital Inc.’s holdings in Shopify were worth $4,100,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in SHOP. We Are One Seven LLC acquired a new stake in Shopify in the fourth quarter valued at $27,000. Mackey Komara & Dankovich LLC acquired a new stake in Shopify in the fourth quarter valued at $28,000. Optimum Investment Advisors acquired a new stake in Shopify in the fourth quarter valued at $28,000. Quad Cities Investment Group LLC acquired a new stake in Shopify in the fourth quarter valued at $28,000. Finally, North Star Investment Management Corp. grew its holdings in Shopify by 90.9% in the fourth quarter. North Star Investment Management Corp. now owns 210 shares of the software maker’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. 63.53% of the stock is currently owned by hedge funds and other institutional investors.
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SHOP opened at $191.52 on Friday. The company has a current ratio of 15.35, a quick ratio of 15.35 and a debt-to-equity ratio of 0.01. The firm has a market cap of $20.63 billion, a P/E ratio of -313.97 and a beta of 1.51. Shopify Inc has a 52 week low of $112.50 and a 52 week high of $192.78.
Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 12th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.32. The business had revenue of $344.00 million for the quarter, compared to analyst estimates of $327.45 million. Shopify had a negative return on equity of 3.52% and a negative net margin of 6.01%. The business’s revenue for the quarter was up 54.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 earnings per share. Equities analysts predict that Shopify Inc will post -0.93 earnings per share for the current fiscal year.
SHOP has been the topic of several research reports. Wedbush reissued an “outperform” rating and issued a $177.00 target price on shares of Shopify in a report on Monday, January 28th. Wells Fargo & Co initiated coverage on Shopify in a report on Tuesday, December 18th. They issued an “outperform” rating and a $175.00 target price on the stock. Zacks Investment Research lowered Shopify from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Royal Bank of Canada raised Shopify from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $180.00 to $230.00 in a report on Wednesday, February 13th. Finally, DA Davidson raised Shopify from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Friday, December 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $186.15.
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Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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