PBU The Pension Fund of Early Childhood & Youth Educators Takes Position in Shopify Inc. $SHOP

PBU The Pension Fund of Early Childhood & Youth Educators acquired a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 93,630 shares of the software maker’s stock, valued at approximately $15,072,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WINTON GROUP Ltd raised its position in Shopify by 47.6% in the 4th quarter. WINTON GROUP Ltd now owns 49,158 shares of the software maker’s stock worth $7,913,000 after purchasing an additional 15,858 shares during the period. Parallel Advisors LLC raised its position in Shopify by 4.3% in the 4th quarter. Parallel Advisors LLC now owns 23,853 shares of the software maker’s stock worth $3,840,000 after purchasing an additional 983 shares during the period. TruNorth Capital Management LLC purchased a new stake in Shopify in the 4th quarter worth about $314,000. Total Wealth Planning & Management Inc. purchased a new stake in Shopify in the 4th quarter worth about $309,000. Finally, VMS Asset Management Limited purchased a new stake in Shopify in the 4th quarter worth about $5,355,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on SHOP. Robert W. Baird set a $150.00 price objective on shares of Shopify in a research report on Wednesday, May 6th. Stifel Nicolaus set a $115.00 price objective on shares of Shopify and gave the stock a “hold” rating in a research report on Wednesday, February 11th. DZ Bank raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Mizuho raised shares of Shopify from a “neutral” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research report on Thursday, February 12th. Finally, Citizens Jmp reduced their price objective on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Shopify Stock Performance

NASDAQ SHOP opened at $109.54 on Friday. The firm’s 50 day moving average price is $114.55 and its 200-day moving average price is $132.80. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The company has a market cap of $142.15 billion, a PE ratio of 108.46, a P/E/G ratio of 3.25 and a beta of 2.60.

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

Shopify Company 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.