Guardian Capital Advisors LP Acquires 1,463 Shares of Shopify Inc. (NYSE:SHOP)

Guardian Capital Advisors LP boosted its holdings in shares of Shopify Inc. (NYSE:SHOPGet Rating) (TSE:SHOP) by 304.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,943 shares of the software maker’s stock after acquiring an additional 1,463 shares during the period. Guardian Capital Advisors LP’s holdings in Shopify were worth $1,162,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHOP. Loomis Sayles & Co. L P increased its position in Shopify by 86,911.9% during the first quarter. Loomis Sayles & Co. L P now owns 1,238,179 shares of the software maker’s stock worth $836,959,000 after buying an additional 1,236,756 shares during the last quarter. Norges Bank acquired a new position in shares of Shopify in the fourth quarter valued at approximately $1,578,341,000. Sands Capital Management LLC grew its position in shares of Shopify by 51.7% in the first quarter. Sands Capital Management LLC now owns 2,127,581 shares of the software maker’s stock valued at $1,438,160,000 after purchasing an additional 724,767 shares during the last quarter. Capital Research Global Investors grew its position in shares of Shopify by 48.0% in the fourth quarter. Capital Research Global Investors now owns 2,105,757 shares of the software maker’s stock valued at $2,900,449,000 after purchasing an additional 683,314 shares during the last quarter. Finally, Jarislowsky Fraser Ltd grew its position in shares of Shopify by 101.5% in the first quarter. Jarislowsky Fraser Ltd now owns 1,146,154 shares of the software maker’s stock valued at $775,818,000 after purchasing an additional 577,264 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

Shopify Stock Performance

NYSE SHOP opened at $35.16 on Tuesday. The company has a market capitalization of $44.27 billion, a price-to-earnings ratio of -23.21 and a beta of 1.82. Shopify Inc. has a twelve month low of $29.07 and a twelve month high of $176.29. The stock has a fifty day simple moving average of $34.99 and a 200 day simple moving average of $46.22. The company has a quick ratio of 11.17, a current ratio of 11.17 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, July 27th. The software maker reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.33 billion. Shopify had a negative net margin of 38.01% and a negative return on equity of 1.61%. Sell-side analysts expect that Shopify Inc. will post -0.45 EPS for the current year.

Analyst Upgrades and Downgrades

SHOP has been the topic of several research reports. Sumitomo Mitsui Financial Group decreased their target price on Shopify from $53.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Stifel Nicolaus reduced their price target on Shopify from $65.00 to $55.00 in a research report on Friday, July 15th. Morgan Stanley reduced their price target on Shopify to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 29th. TD Securities reduced their price target on Shopify from $40.00 to $39.00 and set a “hold” rating on the stock in a research report on Thursday, July 28th. Finally, KGI Securities downgraded Shopify from an “outperform” rating to a “neutral” rating in a research report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $72.33.

About Shopify

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Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, 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.

Further Reading

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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