Robeco Institutional Asset Management B.V. Has $91.62 Million Stock Position in Shopify Inc. $SHOP

Robeco Institutional Asset Management B.V. grew its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 427.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 616,500 shares of the software maker’s stock after buying an additional 499,588 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Shopify were worth $91,618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Family Legacy Financial Solutions LLC purchased a new position in Shopify during the 2nd quarter valued at about $25,000. Financial Gravity Companies Inc. acquired a new stake in shares of Shopify during the second quarter worth approximately $27,000. Rothschild Investment LLC grew its position in Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Heartwood Wealth Advisors LLC purchased a new position in Shopify during the third quarter valued at approximately $27,000. Finally, Tradewinds Capital Management LLC increased its stake in Shopify by 71.4% in the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Raymond James Financial reissued a “market perform” rating on shares of Shopify in a research note on Monday, December 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Shopify in a research report on Monday, December 29th. Truist Financial set a $155.00 target price on Shopify and gave the company a “hold” rating in a research note on Tuesday, November 4th. TD Cowen reaffirmed a “hold” rating and set a $156.00 price target on shares of Shopify in a research note on Friday, October 3rd. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $198.00 price target (up from $125.00) on shares of Shopify in a report on Wednesday, December 17th. Twenty-three investment analysts have rated the stock with a Buy rating and twenty-three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.14.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $168.45 on Wednesday. The stock has a market capitalization of $219.29 billion, a P/E ratio of 124.78, a P/E/G ratio of 4.94 and a beta of 2.83. The business has a 50-day moving average of $160.56 and a two-hundred day moving average of $147.00. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Shopify had a return on equity of 11.72% and a net margin of 16.65%.The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. As a group, research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

About Shopify

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.