First Bank & Trust Has $1.39 Million Stake in Shopify Inc. (NYSE:SHOP)

First Bank & Trust trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,562 shares of the software maker’s stock after selling 421 shares during the period. First Bank & Trust’s holdings in Shopify were worth $1,393,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SHOP. SOA Wealth Advisors LLC. acquired a new stake in shares of Shopify in the second quarter valued at approximately $25,000. Park Place Capital Corp acquired a new stake in Shopify during the 1st quarter worth approximately $27,000. Quintet Private Bank Europe S.A. acquired a new stake in Shopify during the 1st quarter worth approximately $33,000. Kalos Management Inc. acquired a new stake in Shopify during the 1st quarter worth approximately $34,000. Finally, CoreCap Advisors LLC acquired a new stake in Shopify during the 4th quarter worth approximately $36,000. 60.28% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Down 3.7 %

SHOP traded down $2.28 during midday trading on Monday, reaching $60.10. 6,396,019 shares of the company were exchanged, compared to its average volume of 15,699,685. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.71 and a current ratio of 6.71. The company’s fifty day moving average price is $61.70 and its 200 day moving average price is $56.69. The company has a market cap of $77.08 billion, a price-to-earnings ratio of -39.48 and a beta of 2.05. Shopify Inc. has a one year low of $23.63 and a one year high of $71.43.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 2nd. The software maker reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.63 billion. Shopify had a negative net margin of 32.13% and a negative return on equity of 5.36%. As a group, analysts expect that Shopify Inc. will post -0.14 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Citigroup raised their price objective on Shopify from $70.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. Canaccord Genuity Group upgraded Shopify from a “hold” rating to a “buy” rating and raised their price objective for the stock from $60.00 to $70.00 in a research note on Thursday, August 31st. TD Securities raised their price objective on Shopify from $60.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. DA Davidson raised their price objective on Shopify from $67.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, Morgan Stanley raised their price objective on Shopify from $54.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Shopify currently has an average rating of “Hold” and an average target price of $65.34.

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, 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.