Intersect Capital LLC Buys New Holdings in Shopify Inc (SHOP)

Intersect Capital LLC bought a new position in shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 1,000 shares of the software maker’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new position in Shopify during the 4th quarter worth approximately $101,062,000. Baillie Gifford & Co. raised its stake in Shopify by 21.7% during the 4th quarter. Baillie Gifford & Co. now owns 3,788,009 shares of the software maker’s stock worth $524,449,000 after buying an additional 674,648 shares during the period. WCM Investment Management LLC raised its stake in Shopify by 5.7% during the 4th quarter. WCM Investment Management LLC now owns 6,599,190 shares of the software maker’s stock worth $913,657,000 after buying an additional 357,313 shares during the period. Toronto Dominion Bank raised its stake in Shopify by 492.2% during the 4th quarter. Toronto Dominion Bank now owns 392,788 shares of the software maker’s stock worth $54,381,000 after buying an additional 326,462 shares during the period. Finally, Legal & General Group Plc raised its stake in Shopify by 246.7% during the 3rd quarter. Legal & General Group Plc now owns 282,280 shares of the software maker’s stock worth $46,414,000 after buying an additional 200,868 shares during the period. 64.93% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on SHOP shares. Wedbush reaffirmed an “outperform” rating and set a $177.00 price target on shares of Shopify in a research note on Monday, January 28th. Zacks Investment Research downgraded Shopify from a “hold” rating to a “strong sell” rating in a research note on Monday, February 18th. KeyCorp upped their price target on Shopify from $182.00 to $197.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 13th. SunTrust Banks reaffirmed a “hold” rating and set a $170.00 price target on shares of Shopify in a research note on Thursday, February 14th. Finally, Mackie upped their price target on Shopify from $170.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, February 13th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $198.30.

Shares of SHOP opened at $222.28 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 15.35 and a quick ratio of 15.35. The company has a market cap of $24.54 billion, a price-to-earnings ratio of -364.39 and a beta of 1.53. Shopify Inc has a 52 week low of $117.64 and a 52 week high of $227.39.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 12th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.32. The firm had revenue of $344.00 million during the quarter, compared to analyst estimates of $327.45 million. Shopify had a negative return on equity of 3.52% and a negative net margin of 6.01%. The company’s revenue for the quarter was up 54.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 EPS. Analysts expect that Shopify Inc will post -1 EPS for the current year.

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Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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