Certuity LLC Has $1.28 Million Holdings in Shopify Inc. (NYSE:SHOP)

Certuity LLC grew its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,369 shares of the software maker’s stock after buying an additional 1,196 shares during the period. Certuity LLC’s holdings in Shopify were worth $1,281,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Napean Trading & Investment Co Singapore PTE Ltd grew its holdings in Shopify by 32.4% in the second quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 129,354 shares of the software maker’s stock worth $8,544,000 after purchasing an additional 31,660 shares during the period. Acadian Asset Management LLC boosted its position in shares of Shopify by 90.9% during the 2nd quarter. Acadian Asset Management LLC now owns 56,463 shares of the software maker’s stock worth $3,727,000 after purchasing an additional 26,885 shares in the last quarter. Asset Dedication LLC boosted its position in shares of Shopify by 33.2% during the 2nd quarter. Asset Dedication LLC now owns 2,408 shares of the software maker’s stock worth $159,000 after purchasing an additional 600 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Shopify by 3,475.4% in the 2nd quarter. Strategic Financial Concepts LLC now owns 174,373 shares of the software maker’s stock valued at $11,517,000 after buying an additional 169,496 shares during the period. Finally, Norden Group LLC increased its position in Shopify by 500.0% in the 2nd quarter. Norden Group LLC now owns 16,547 shares of the software maker’s stock valued at $1,093,000 after buying an additional 13,789 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

NYSE:SHOP opened at $67.01 on Friday. Shopify Inc. has a 52-week low of $45.50 and a 52-week high of $91.57. The stock has a fifty day moving average of $66.99 and a 200 day moving average of $68.56. 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 firm has a market capitalization of $86.35 billion, a price-to-earnings ratio of -394.18, a P/E/G ratio of 2.35 and a beta of 2.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $2.05 billion during 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% on a year-over-year basis. During the same quarter last year, the company posted ($0.08) EPS. On average, research analysts expect that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of research reports. Loop Capital raised their price objective on Shopify from $68.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Piper Sandler restated a “neutral” rating and set a $67.00 price objective on shares of Shopify in a report on Thursday, August 29th. Evercore ISI raised their price objective on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Shopify from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have given a buy rating and one has assigned 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 an average price target of $77.11.

Shopify Company 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.