Lazari Capital Management Inc. Grows Holdings in Shopify Inc. (NYSE:SHOP)

Lazari Capital Management Inc. lifted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,447 shares of the software maker’s stock after acquiring an additional 177 shares during the quarter. Lazari Capital Management Inc.’s holdings in Shopify were worth $426,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SHOP. GQG Partners LLC raised its position in Shopify by 197.9% during the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after acquiring an additional 13,885,473 shares during the period. Capital World Investors boosted its holdings in Shopify by 26.2% in the 1st 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 during the last quarter. Price T Rowe Associates Inc. MD increased its stake in 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 buying an additional 5,982,434 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Shopify by 49.9% during the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after acquiring an additional 2,102,939 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Shopify by 214.5% in the first quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock valued at $224,492,000 after acquiring an additional 1,983,996 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SHOP. Benchmark reissued a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Evercore boosted their price target on shares of Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Wolfe Research began coverage on shares of Shopify in a research note on Tuesday, July 16th. They set an “outperform” rating and a $80.00 price objective for the company. Finally, Bank of America raised shares of Shopify from a “neutral” rating to a “buy” rating and raised their target price for the stock from $78.00 to $82.00 in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.38.

Shopify Price Performance

SHOP stock opened at $78.47 on Wednesday. The business’s 50-day moving average is $70.57 and its two-hundred day moving average is $68.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The firm has a market capitalization of $101.12 billion, a P/E ratio of -461.59, a P/E/G ratio of 2.65 and a beta of 2.35. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57.

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

About Shopify

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.