Headlands Technologies LLC Lowers Stock Position in Shopify Inc. $SHOP

Headlands Technologies LLC cut its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 81.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,043 shares of the software maker’s stock after selling 47,915 shares during the period. Headlands Technologies LLC’s holdings in Shopify were worth $1,261,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SHOP. Kingdom Financial Group LLC. bought a new stake in Shopify during the 4th quarter valued at $26,000. Curio Wealth LLC bought a new position in Shopify in the fourth quarter worth about $27,000. Lloyd Advisory Services LLC. bought a new stake in shares of Shopify in the 4th quarter valued at about $31,000. Navalign LLC purchased a new position in shares of Shopify in the 4th quarter worth approximately $34,000. Finally, Modus Advisors LLC purchased a new stake in Shopify during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SHOP. Canaccord Genuity Group set a $180.00 price target on Shopify and gave the stock a “buy” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. boosted their target price on Shopify from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. BTIG Research assumed coverage on Shopify in a research report on Friday, July 10th. They set a “buy” rating on the stock. Morgan Stanley downgraded Shopify from an “overweight” rating to a “buy” rating in a report on Monday, July 13th. Finally, Rothschild & Co Redburn set a $130.00 price target on Shopify and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.84.

Shopify Price Performance

NASDAQ:SHOP opened at $147.37 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.35 and a quick ratio of 5.35. The firm has a market cap of $189.61 billion, a price-to-earnings ratio of 99.57, a price-to-earnings-growth ratio of 3.12 and a beta of 2.58. The company has a 50 day moving average price of $131.76 and a 200-day moving average price of $121.93. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Shopify had a net margin of 14.53% and a return on equity of 12.58%. The company had revenue of $3.58 billion during the quarter. During the same period in the previous year, the firm posted $0.69 EPS. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. Equities research analysts forecast that Shopify Inc. will post 1.45 EPS for the current year.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.