Shopify Inc. $SHOP Shares Acquired by Mission Wealth Management LP

Mission Wealth Management LP raised its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 276.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,737 shares of the software maker’s stock after acquiring an additional 10,824 shares during the quarter. Mission Wealth Management LP’s holdings in Shopify were worth $2,372,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Knights of Columbus Asset Advisors LLC acquired a new position in shares of Shopify during the 3rd quarter worth about $4,110,000. Principal Financial Group Inc. boosted its position in shares of Shopify by 16.3% during the 3rd quarter. Principal Financial Group Inc. now owns 450,895 shares of the software maker’s stock worth $67,006,000 after acquiring an additional 63,300 shares in the last quarter. Triton Financial Group Inc acquired a new position in shares of Shopify during the 3rd quarter worth about $1,931,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of Shopify by 65.5% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 158,514 shares of the software maker’s stock worth $23,557,000 after acquiring an additional 62,743 shares in the last quarter. Finally, M&T Bank Corp boosted its position in shares of Shopify by 37.1% during the 4th quarter. M&T Bank Corp now owns 81,082 shares of the software maker’s stock worth $13,051,000 after acquiring an additional 21,945 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shopify stock opened at $102.39 on Tuesday. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The company has a market capitalization of $132.87 billion, a P/E ratio of 101.38, a PEG ratio of 2.81 and a beta of 2.64. The stock has a 50-day simple moving average of $118.47 and a 200-day simple moving average of $137.61.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, beating the consensus estimate of $0.22 by $998.78. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. As a group, analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SHOP shares. Phillip Securities raised Shopify from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Barclays set a $126.00 target price on Shopify and gave the company an “equal weight” rating in a report on Wednesday, May 6th. BMO Capital Markets reduced their target price on Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Benchmark reduced their target price on Shopify from $195.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Finally, TD Cowen raised Shopify from a “hold” rating to a “buy” rating and set a $159.00 target price for the company in a report on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.42.

Shopify Profile

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.