Deltec Asset Management LLC Takes Position in Shopify Inc. (NYSE:SHOP)

Deltec Asset Management LLC bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 15,000 shares of the software maker’s stock, valued at approximately $991,000.

Several other hedge funds also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its stake in Shopify by 39.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 259,686 shares of the software maker’s stock worth $20,230,000 after acquiring an additional 73,160 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Shopify by 99.1% during the fourth quarter. Cerity Partners LLC now owns 45,582 shares of the software maker’s stock worth $3,551,000 after purchasing an additional 22,689 shares in the last quarter. Sapient Capital LLC purchased a new position in shares of Shopify in the fourth quarter valued at approximately $483,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Shopify in the fourth quarter valued at approximately $113,000. Finally, Clarius Group LLC increased its stake in Shopify by 40.1% during the 4th quarter. Clarius Group LLC now owns 6,920 shares of the software maker’s stock worth $539,000 after buying an additional 1,980 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SHOP shares. KeyCorp started coverage on shares of Shopify in a research note on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Shopify from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. CIBC lowered their target price on shares of Shopify from $100.00 to $85.00 and set an “outperformer” rating for the company in a research note on Thursday, May 9th. Citigroup cut their price target on Shopify from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Mizuho lowered their price objective on Shopify from $75.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average price target of $77.24.

Shopify Trading Up 2.4 %

Shares of Shopify stock traded up $1.69 during mid-day trading on Wednesday, hitting $71.59. 8,869,870 shares of the stock were exchanged, compared to its average volume of 10,419,873. The company has a 50-day simple moving average of $63.79 and a 200 day simple moving average of $69.64. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $92.26 billion, a price-to-earnings ratio of -416.94, a price-to-earnings-growth ratio of 2.83 and a beta of 2.30. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. Shopify’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.08) earnings per share. Research analysts forecast that Shopify Inc. will post 0.63 EPS for the current year.

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.