Shopify Inc (SHOP) Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its holdings in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 7,740.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,135 shares of the software maker’s stock after buying an additional 7,044 shares during the period. Sei Investments Co.’s holdings in Shopify were worth $1,041,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in Shopify by 21.4% in the second quarter. Baillie Gifford & Co. now owns 1,682,123 shares of the software maker’s stock valued at $245,405,000 after purchasing an additional 296,872 shares during the last quarter. Carmignac Gestion lifted its stake in Shopify by 243.1% in the first quarter. Carmignac Gestion now owns 1,453,311 shares of the software maker’s stock valued at $181,068,000 after purchasing an additional 1,029,750 shares during the last quarter. Franklin Resources Inc. lifted its stake in Shopify by 31.7% in the first quarter. Franklin Resources Inc. now owns 1,182,140 shares of the software maker’s stock valued at $147,281,000 after purchasing an additional 284,800 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Shopify by 23.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,091,315 shares of the software maker’s stock valued at $159,045,000 after purchasing an additional 206,325 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC lifted its stake in Shopify by 0.4% in the first quarter. Zevenbergen Capital Investments LLC now owns 914,070 shares of the software maker’s stock valued at $113,884,000 after purchasing an additional 3,595 shares during the last quarter. Hedge funds and other institutional investors own 60.74% of the company’s stock.

Several equities research analysts have issued reports on the company. KeyCorp restated an “overweight” rating and set a $182.00 target price (up previously from $170.00) on shares of Shopify in a research report on Tuesday, June 19th. Rosenblatt Securities assumed coverage on Shopify in a research report on Tuesday, September 4th. They set a “buy” rating and a $188.00 target price on the stock. Piper Jaffray Companies downgraded Shopify from an “overweight” rating to a “neutral” rating and set a $145.00 target price on the stock. in a research report on Tuesday, July 31st. Robert W. Baird increased their target price on Shopify from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 31st. Finally, Zacks Investment Research upgraded Shopify from a “hold” rating to a “buy” rating and set a $177.00 target price on the stock in a research report on Tuesday, July 10th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $161.90.

Shopify stock opened at $142.13 on Tuesday. Shopify Inc has a fifty-two week low of $89.35 and a fifty-two week high of $176.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.89 and a current ratio of 12.89.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, July 31st. The software maker reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.30. The firm had revenue of $245.00 million for the quarter, compared to analysts’ expectations of $234.72 million. Shopify had a negative net margin of 6.12% and a negative return on equity of 3.77%. The business’s quarterly revenue was up 61.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. equities analysts anticipate that Shopify Inc will post -0.76 earnings per share for the current fiscal year.

Shopify Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, 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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