15,000 Shares in Shopify Inc. (NYSE:SHOP) Acquired by Deltec Asset Management LLC

Deltec Asset Management LLC purchased a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 15,000 shares of the software maker’s stock, valued at approximately $991,000.

A number of other hedge funds have also recently made changes to their positions in the company. Norden Group LLC purchased a new stake in Shopify in the first quarter valued at approximately $3,618,000. Silvercrest Asset Management Group LLC raised its position in shares of Shopify by 735.0% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock valued at $4,084,000 after buying an additional 46,589 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Shopify by 5.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock worth $40,838,000 after acquiring an additional 28,639 shares during the last quarter. FIL Ltd lifted its stake in Shopify by 1.8% during the fourth quarter. FIL Ltd now owns 13,303,001 shares of the software maker’s stock worth $1,035,688,000 after purchasing an additional 238,596 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its holdings in shares of Shopify by 5.3% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,340 shares of the software maker’s stock worth $335,000 after purchasing an additional 219 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Up 2.4 %

Shares of SHOP traded up $1.69 during mid-day trading on Wednesday, reaching $71.59. The company had a trading volume of 8,869,870 shares, compared to its average volume of 10,419,873. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The company has a market capitalization of $92.26 billion, a price-to-earnings ratio of -416.94, a price-to-earnings-growth ratio of 2.83 and a beta of 2.30. The firm has a 50-day moving average price of $63.79 and a 200 day moving average price of $69.64.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) earnings per share. On average, sell-side analysts forecast that Shopify Inc. will post 0.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. The Goldman Sachs Group boosted their target price on Shopify from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Wells Fargo & Company upped their price objective on shares of Shopify from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. DA Davidson lowered their price target on shares of Shopify from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Citigroup cut their price target on shares of Shopify from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Truist Financial decreased their price objective on Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.24.

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.