Brown Advisory Inc. Has $238.42 Million Position in Shopify Inc. $SHOP

Brown Advisory Inc. grew its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 5,193.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,066,884 shares of the software maker’s stock after purchasing an additional 2,027,839 shares during the period. Brown Advisory Inc.’s holdings in Shopify were worth $238,419,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Family Legacy Financial Solutions LLC acquired a new position in Shopify in the second quarter valued at about $25,000. Financial Gravity Companies Inc. acquired a new stake in shares of Shopify during the second quarter worth approximately $27,000. Rothschild Investment LLC raised its stake in shares of Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Tradewinds Capital Management LLC boosted its holdings in shares of Shopify by 71.4% in the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Finally, Coastline Trust Co acquired a new position in shares of Shopify in the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 1.4%

Shares of NASDAQ:SHOP opened at $162.31 on Friday. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19. The stock has a market capitalization of $211.30 billion, a P/E ratio of 120.23, a P/E/G ratio of 5.94 and a beta of 2.82. The business has a 50-day moving average price of $158.06 and a two-hundred day moving average price of $137.11.

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

Analyst Ratings Changes

SHOP has been the subject of a number of recent analyst reports. DA Davidson raised their price target on Shopify from $185.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Phillip Securities lowered Shopify from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 12th. TD Cowen reaffirmed a “hold” rating and issued a $156.00 price target on shares of Shopify in a report on Friday, October 3rd. Wedbush reiterated an “outperform” rating and set a $185.00 price target (up previously from $160.00) on shares of Shopify in a research report on Tuesday, November 4th. Finally, Evercore ISI increased their price objective on shares of Shopify from $120.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Twenty-two research analysts have rated the stock with a Buy rating and twenty-four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $166.53.

Shopify Profile

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.