WINTON GROUP Ltd Purchases 15,858 Shares of Shopify Inc. $SHOP

WINTON GROUP Ltd increased its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 47.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 49,158 shares of the software maker’s stock after buying an additional 15,858 shares during the quarter. WINTON GROUP Ltd’s holdings in Shopify were worth $7,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Parallel Advisors LLC boosted its holdings in shares of Shopify by 4.3% during the 4th quarter. Parallel Advisors LLC now owns 23,853 shares of the software maker’s stock worth $3,840,000 after buying an additional 983 shares during the period. TruNorth Capital Management LLC bought a new stake in shares of Shopify during the 4th quarter worth $314,000. Total Wealth Planning & Management Inc. bought a new stake in shares of Shopify during the 4th quarter worth $309,000. VMS Asset Management Limited bought a new stake in shares of Shopify during the 4th quarter worth $5,355,000. Finally, Prudential PLC boosted its holdings in shares of Shopify by 5.2% during the 4th quarter. Prudential PLC now owns 71,489 shares of the software maker’s stock worth $11,543,000 after buying an additional 3,518 shares during the period. 69.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on SHOP shares. UBS Group reaffirmed a “neutral” rating on shares of Shopify in a report on Thursday, May 28th. Stifel Nicolaus set a $115.00 price objective on shares of Shopify and gave the stock a “hold” rating in a report on Wednesday, February 11th. Weiss Ratings downgraded shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. TD Cowen upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research note on Wednesday, February 11th. Finally, Oppenheimer restated an “outperform” rating and issued a $175.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. 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 company’s stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $157.17.

Shopify Trading Down 5.6%

Shares of Shopify stock opened at $109.54 on Friday. The company’s fifty day simple moving average is $114.55 and its 200-day simple moving average is $132.80. The company has a market cap of $142.15 billion, a price-to-earnings ratio of 108.46, a PEG ratio of 3.25 and a beta of 2.60. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $998.78. The business 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%. As a group, research analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

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.