AQR Capital Management LLC Sells 256 Shares of Shopify Inc. (NYSE:SHOP)

AQR Capital Management LLC trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,551 shares of the software maker’s stock after selling 256 shares during the period. AQR Capital Management LLC’s holdings in Shopify were worth $235,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SHOP. Cultivar Capital Inc. bought a new stake in Shopify in the 2nd quarter valued at about $33,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Shopify in the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Shopify during the second quarter worth approximately $39,000. Private Wealth Management Group LLC increased its stake in Shopify by 53.3% during the 1st quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock worth $40,000 after acquiring an additional 180 shares during the period. Finally, HighMark Wealth Management LLC raised its holdings in Shopify by 63.3% in the 2nd quarter. HighMark Wealth Management LLC now owns 601 shares of the software maker’s stock valued at $40,000 after acquiring an additional 233 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on SHOP shares. Argus raised shares of Shopify to a “strong-buy” rating in a report on Thursday, August 8th. KeyCorp assumed coverage on Shopify in a research note on Thursday, July 25th. They set an “overweight” rating and a $80.00 target price for the company. Wolfe Research initiated coverage on Shopify in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 price target on the stock. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Shopify in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. raised their price objective on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $78.97.

Shopify Trading Down 0.3 %

NYSE:SHOP opened at $81.59 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a market cap of $105.14 billion, a PE ratio of 83.26, a PEG ratio of 2.80 and a beta of 2.36. The firm has a 50-day moving average of $75.99 and a 200-day moving average of $68.90.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. Shopify’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, equities research analysts expect that Shopify Inc. will post 0.76 EPS for the current fiscal year.

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.