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

AQR Capital Management LLC lessened its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 6.7% during the second quarter, HoldingsChannel reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Cultivar Capital Inc. bought a new stake in shares of Shopify in the second quarter valued at $33,000. Hazlett Burt & Watson Inc. purchased a new stake in Shopify in the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Shopify in the 2nd quarter valued at about $39,000. Private Wealth Management Group LLC lifted its holdings in Shopify by 53.3% during the first quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock valued at $40,000 after purchasing an additional 180 shares during the last quarter. Finally, HighMark Wealth Management LLC boosted its position in Shopify by 63.3% during the second quarter. HighMark Wealth Management LLC now owns 601 shares of the software maker’s stock worth $40,000 after purchasing an additional 233 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of Shopify stock opened at $81.59 on Friday. 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 business has a 50 day moving average of $75.99 and a 200 day moving average of $68.90. The company has a market cap of $105.14 billion, a PE ratio of 83.26, a P/E/G ratio of 2.80 and a beta of 2.36. Shopify Inc. has a 52 week low of $45.50 and a 52 week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its 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. 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 analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm posted ($0.08) EPS. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equities research analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SHOP. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Citigroup increased their price objective on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, September 30th. KeyCorp started coverage on shares of Shopify in a report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price target on the stock. Evercore upped their target price on shares of Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Finally, Barclays increased their target price on shares of Shopify from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. 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 given a strong buy rating to the company. According to data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $78.97.

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.