MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 584.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,020 shares of the software maker's stock after buying an additional 29,053 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Shopify were worth $1,061,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Mitchell Mcleod Pugh & Williams Inc. raised its stake in Shopify by 900.0% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,030 shares of the software maker's stock valued at $220,000 after acquiring an additional 6,327 shares during the period. GPS Wealth Strategies Group LLC raised its stake in Shopify by 1,251.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 7,270 shares of the software maker's stock valued at $227,000 after acquiring an additional 6,732 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in Shopify by 345.9% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,626 shares of the software maker's stock valued at $301,000 after acquiring an additional 7,467 shares during the period. North Star Investment Management Corp. raised its stake in Shopify by 900.0% in the 2nd quarter. North Star Investment Management Corp. now owns 1,020 shares of the software maker's stock valued at $32,000 after acquiring an additional 918 shares during the period. Finally, Gulf International Bank UK Ltd raised its stake in Shopify by 900.0% in the 2nd quarter. Gulf International Bank UK Ltd now owns 9,640 shares of the software maker's stock valued at $276,000 after acquiring an additional 8,676 shares during the period. Institutional investors and hedge funds own 54.64% of the company's stock.
Get Shopify alerts:Analysts Set New Price Targets
Several research analysts have weighed in on the company. StockNews.com upgraded Shopify to a "sell" rating in a research report on Thursday, June 30th. KeyCorp reduced their target price on Shopify from $65.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, July 7th. KGI Securities lowered Shopify from an "outperform" rating to a "neutral" rating in a report on Friday, August 5th. Stifel Nicolaus reduced their price objective on Shopify from $65.00 to $55.00 in a research note on Friday, July 15th. Finally, DZ Bank lowered Shopify from a "buy" rating to a "hold" rating in a research note on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $72.18.
Shopify Trading Down 1.4 %
NYSE SHOP opened at $27.85 on Wednesday. The company has a market cap of $35.06 billion, a price-to-earnings ratio of -18.38 and a beta of 1.82. Shopify Inc. has a 52 week low of $27.65 and a 52 week high of $176.29. The business has a 50 day moving average price of $34.58 and a 200-day moving average price of $43.83. The company has a quick ratio of 11.17, a current ratio of 11.17 and a debt-to-equity ratio of 0.10.Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last released its quarterly earnings data on Wednesday, July 27th. The software maker reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.04). The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.33 billion. Shopify had a negative net margin of 38.01% and a negative return on equity of 1.61%. As a group, equities analysts expect that Shopify Inc. will post -0.65 earnings per share for the current fiscal year.
Shopify Profile
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Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, 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.
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