Centaurus Financial Inc. Invests $357,000 in Shopify Inc. (NYSE:SHOP)

Centaurus Financial Inc. bought a new position in shares of Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,241 shares of the software maker’s stock, valued at approximately $357,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SHOP. AlphaCrest Capital Management LLC increased its position in shares of Shopify by 414.3% in the second quarter. AlphaCrest Capital Management LLC now owns 12,308 shares of the software maker’s stock worth $385,000 after purchasing an additional 9,915 shares during the period. CI Investments Inc. increased its position in shares of Shopify by 1,903.5% in the second quarter. CI Investments Inc. now owns 370,374 shares of the software maker’s stock worth $11,570,000 after purchasing an additional 351,888 shares during the period. WINTON GROUP Ltd bought a new position in shares of Shopify in the third quarter worth $365,000. Massachusetts Financial Services Co. MA increased its position in shares of Shopify by 853.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,967,747 shares of the software maker’s stock worth $61,473,000 after purchasing an additional 1,761,357 shares during the period. Finally, USS Investment Management Ltd increased its position in shares of Shopify by 868.3% in the second quarter. USS Investment Management Ltd now owns 252,020 shares of the software maker’s stock worth $7,888,000 after purchasing an additional 225,994 shares during the period. Institutional investors and hedge funds own 56.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SHOP. William Blair restated an “outperform” rating on shares of Shopify in a research report on Wednesday, January 25th. Capital One Financial assumed coverage on Shopify in a research report on Thursday, December 8th. They issued an “equal weight” rating on the stock. StockNews.com assumed coverage on Shopify in a research report on Thursday. They issued a “sell” rating on the stock. UBS Group assumed coverage on Shopify in a research report on Thursday, December 8th. They issued a “sell” rating and a $30.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on Shopify from $46.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, February 16th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $47.38.

Shopify Trading Up 0.0 %

NYSE SHOP opened at $44.68 on Friday. The company has a market cap of $56.42 billion, a price-to-earnings ratio of -16.37 and a beta of 2.04. Shopify Inc. has a 52 week low of $23.63 and a 52 week high of $78.00. The business has a 50 day moving average price of $44.17 and a 200-day moving average price of $37.20. The company has a quick ratio of 7.07, a current ratio of 7.07 and a debt-to-equity ratio of 0.17.

Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, February 15th. The software maker reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.10. Shopify had a negative return on equity of 5.62% and a negative net margin of 61.79%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.64 billion. As a group, equities analysts expect that Shopify Inc. will post -0.48 earnings per share for the current fiscal year.

Shopify Company Profile

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Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.