Baldwin Investment Management LLC acquired a new stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,600 shares of the software maker’s stock, valued at approximately $379,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Resources Investment Advisors Inc. increased its holdings in shares of Shopify by 10,257.1% during the 2nd quarter. Resources Investment Advisors Inc. now owns 725 shares of the software maker’s stock worth $106,000 after buying an additional 718 shares during the last quarter. Next Century Growth Investors LLC acquired a new stake in shares of Shopify during the 1st quarter worth approximately $115,000. Signaturefd LLC acquired a new stake in shares of Shopify during the 1st quarter worth approximately $132,000. Shine Investment Advisory Services Inc. acquired a new stake in shares of Shopify during the 2nd quarter worth approximately $159,000. Finally, Captrust Financial Advisors increased its holdings in shares of Shopify by 643.3% during the 2nd quarter. Captrust Financial Advisors now owns 1,115 shares of the software maker’s stock worth $163,000 after buying an additional 965 shares during the last quarter. Institutional investors own 60.74% of the company’s stock.

NYSE:SHOP opened at $153.13 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.89 and a quick ratio of 12.89. The company has a market cap of $14.96 billion, a P/E ratio of -351.43 and a beta of 1.17. Shopify Inc has a fifty-two week low of $89.35 and a fifty-two week high of $176.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, July 31st. The software maker reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.30. The firm had revenue of $245.00 million during 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 firm’s quarterly revenue was up 61.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) EPS. equities analysts forecast that Shopify Inc will post -0.76 EPS for the current year.

A number of analysts have recently issued reports on the stock. Canaccord Genuity raised their price target on shares of Shopify from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Robert W. Baird raised their price target on shares of Shopify from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, July 31st. Roth Capital cut their price target on shares of Shopify from $192.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, August 1st. Piper Jaffray Companies downgraded shares of Shopify from an “overweight” rating to a “neutral” rating and set a $145.00 price target for the company. in a report on Tuesday, July 31st. Finally, Morgan Stanley raised their price target on shares of Shopify from $140.00 to $151.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. Seven investment 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 stock. The company has a consensus rating of “Buy” and a consensus target price of $161.90.

About Shopify

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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