DekaBank Deutsche Girozentrale Buys 28,639 Shares of Shopify Inc. (NYSE:SHOP)

DekaBank Deutsche Girozentrale increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 5.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 523,257 shares of the software maker’s stock after acquiring an additional 28,639 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Shopify were worth $40,838,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SHOP. Private Wealth Management Group LLC bought a new stake in shares of Shopify during the 4th quarter valued at about $26,000. DSM Capital Partners LLC purchased a new position in Shopify in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new position in shares of Shopify in the 4th quarter worth $28,000. Your Advocates Ltd. LLP increased its holdings in shares of Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after buying an additional 391 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new stake in shares of Shopify during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 6.4 %

Shopify stock traded down $3.74 on Friday, hitting $54.43. 18,357,852 shares of the stock traded hands, compared to its average volume of 8,092,817. The business’s fifty day simple moving average is $63.09 and its 200 day simple moving average is $70.52. The firm has a market cap of $70.14 billion, a P/E ratio of -320.18, a price-to-earnings-growth ratio of 3.36 and a beta of 2.30. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. As a group, sell-side analysts forecast that Shopify Inc. will post 0.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SHOP. Robert W. Baird reduced their target price on Shopify from $87.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Benchmark reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on Shopify from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. StockNews.com raised Shopify from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, DA Davidson decreased their price target on shares of Shopify from $90.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $77.62.

About Shopify

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.