Gilbert & Cook Inc. Purchases 3,036 Shares of Shopify Inc. (NYSE:SHOP)

Gilbert & Cook Inc. raised its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 83.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,685 shares of the software maker’s stock after acquiring an additional 3,036 shares during the period. Gilbert & Cook Inc.’s holdings in Shopify were worth $442,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Wealth Management Group LLC acquired a new stake in Shopify in the 4th quarter valued at approximately $26,000. DSM Capital Partners LLC bought a new stake in shares of Shopify in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Shopify in the fourth quarter worth $28,000. Your Advocates Ltd. LLP increased its position in Shopify by 4,344.4% during the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after acquiring an additional 391 shares during the period. Finally, Cultivar Capital Inc. acquired a new position in Shopify during the 2nd quarter valued at $33,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SHOP shares. Benchmark restated a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. Moffett Nathanson cut Shopify from a “buy” rating to a “neutral” rating and cut their price target for the company from $74.00 to $65.00 in a report on Thursday, June 6th. Wells Fargo & Company lifted their price objective on Shopify from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Morgan Stanley upped their target price on Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $77.30.

Shopify Price Performance

SHOP opened at $74.07 on Tuesday. The company has a fifty day moving average price of $66.67 and a two-hundred day moving average price of $68.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The firm has a market capitalization of $95.45 billion, a PE ratio of -435.71, a P/E/G ratio of 2.48 and a beta of 2.30. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The firm’s revenue was up 20.7% on a year-over-year basis. As a group, analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current year.

Shopify 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.