Vestor Capital LLC Invests $60,000 in Shopify Inc (NYSE:SHOP)

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Vestor Capital LLC purchased a new stake in Shopify Inc (NYSE:SHOP) (TSE:SHOP) during the 2nd quarter, HoldingsChannel reports. The firm purchased 201 shares of the software maker’s stock, valued at approximately $60,000.

A number of other large investors also recently added to or reduced their stakes in SHOP. Baillie Gifford & Co. boosted its holdings in Shopify by 56.3% in the first quarter. Baillie Gifford & Co. now owns 5,920,039 shares of the software maker’s stock valued at $1,223,199,000 after acquiring an additional 2,132,030 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in Shopify by 29,316.3% in the second quarter. Thoroughbred Financial Services LLC now owns 1,533,766 shares of the software maker’s stock valued at $153,377,000 after acquiring an additional 1,528,552 shares in the last quarter. CIBC World Markets Inc. boosted its holdings in Shopify by 378.5% in the first quarter. CIBC World Markets Inc. now owns 865,184 shares of the software maker’s stock valued at $178,764,000 after acquiring an additional 684,365 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Shopify by 76.2% in the first quarter. The Manufacturers Life Insurance Company now owns 507,158 shares of the software maker’s stock valued at $104,789,000 after acquiring an additional 219,284 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Shopify by 2,201.6% in the second quarter. Bessemer Group Inc. now owns 221,412 shares of the software maker’s stock valued at $66,457,000 after acquiring an additional 211,792 shares in the last quarter. Institutional investors and hedge funds own 64.02% of the company’s stock.

Shares of SHOP traded down $3.79 during trading hours on Friday, hitting $384.75. The company had a trading volume of 110,924 shares, compared to its average volume of 1,970,049. The firm has a fifty day moving average price of $337.63 and a 200-day moving average price of $260.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 11.44 and a current ratio of 11.44. The stock has a market capitalization of $41.82 billion, a price-to-earnings ratio of -629.67 and a beta of 1.30. Shopify Inc has a 52-week low of $117.64 and a 52-week high of $392.83.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Thursday, August 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.45. The firm had revenue of $361.98 million during the quarter, compared to analyst estimates of $350.59 million. Shopify had a negative return on equity of 3.85% and a negative net margin of 5.98%. Shopify’s quarterly revenue was up 47.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 EPS. Research analysts anticipate that Shopify Inc will post -0.82 earnings per share for the current fiscal year.

SHOP has been the topic of several recent analyst reports. Morgan Stanley cut shares of Shopify from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $173.00 to $209.00 in a report on Tuesday, May 14th. They noted that the move was a valuation call. Rosenblatt Securities restated a “buy” rating and set a $410.00 target price on shares of Shopify in a report on Friday, August 2nd. Wells Fargo & Co boosted their target price on shares of Shopify from $195.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Wedbush cut shares of Shopify from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $270.00 to $305.00 in a report on Tuesday, June 25th. They noted that the move was a valuation call. Finally, CSFB boosted their target price on shares of Shopify from $275.00 to $370.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. Shopify presently has a consensus rating of “Hold” and a consensus price target of $327.00.

Shopify Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

Further Reading: Rule of 72

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc (NYSE:SHOP) (TSE:SHOP).

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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