Crossmark Global Holdings Inc. Has $4.32 Million Stock Position in Shopify Inc. (NYSE:SHOP)

Crossmark Global Holdings Inc. cut its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.2% in the second quarter, Holdings Channel reports. The institutional investor owned 65,401 shares of the software maker’s stock after selling 2,165 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Shopify were worth $4,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Capital World Investors grew its position in Shopify by 26.2% during the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after buying an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Shopify by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after purchasing an additional 713,064 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after purchasing an additional 5,982,434 shares in the last quarter. GQG Partners LLC raised its stake in shares of Shopify by 197.9% in the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after purchasing an additional 13,885,473 shares in the last quarter. Finally, Capital International Investors lifted its position in Shopify by 3.4% in the first quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock worth $1,264,982,000 after purchasing an additional 542,503 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Stock Up 1.1 %

NYSE:SHOP opened at $74.05 on Friday. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57. The stock’s fifty day simple moving average is $66.29 and its 200-day simple moving average is $69.10. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $95.43 billion, a P/E ratio of -435.71, a P/E/G ratio of 2.50 and a beta of 2.30.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 16.40% and a return on equity of 10.88%. Shopify’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the company posted ($0.08) EPS. Equities research analysts expect that Shopify Inc. will post 0.76 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SHOP. UBS Group increased their price objective on shares of Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Loop Capital increased their price target on shares of Shopify from $68.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Barclays lifted their price objective on Shopify from $63.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Mizuho cut their target price on Shopify from $75.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Finally, Roth Mkm boosted their price target on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $77.30.

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.