Shopify Inc. $SHOP Shares Acquired by Ardsley Advisory Partners LP

Ardsley Advisory Partners LP grew its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 46.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,400 shares of the software maker’s stock after purchasing an additional 18,750 shares during the period. Ardsley Advisory Partners LP’s holdings in Shopify were worth $6,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Shopify by 171.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock valued at $48,827,000 after purchasing an additional 267,271 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Shopify by 4.4% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,231,257 shares of the software maker’s stock valued at $603,425,000 after purchasing an additional 218,829 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Shopify by 9.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 400,389 shares of the software maker’s stock valued at $46,185,000 after buying an additional 35,113 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Shopify by 2.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,622,495 shares of the software maker’s stock worth $301,869,000 after buying an additional 67,260 shares in the last quarter. Finally, ARK Investment Management LLC grew its position in shares of Shopify by 13.6% during the second quarter. ARK Investment Management LLC now owns 5,049,508 shares of the software maker’s stock worth $582,461,000 after buying an additional 605,283 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 0.9%

Shares of NASDAQ SHOP opened at $159.89 on Wednesday. The stock has a market cap of $208.15 billion, a P/E ratio of 118.44, a P/E/G ratio of 5.89 and a beta of 2.82. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19. The stock has a 50 day moving average of $158.89 and a two-hundred day moving average of $138.74.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. As a group, research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Shopify in a report on Thursday, December 4th. Zacks Research downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Stifel Nicolaus set a $175.00 price objective on shares of Shopify in a report on Tuesday, November 4th. Benchmark reiterated a “buy” rating on shares of Shopify in a research note on Wednesday, December 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $180.00 target price on shares of Shopify in a report on Wednesday, November 5th. Twenty-two equities research analysts have rated the stock with a Buy rating and twenty-three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $166.53.

About Shopify

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.