Venture Visionary Partners LLC Grows Stock Position in Shopify Inc. $SHOP

Venture Visionary Partners LLC increased its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,930 shares of the software maker’s stock after buying an additional 8,168 shares during the quarter. Venture Visionary Partners LLC’s holdings in Shopify were worth $13,832,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SHOP. Vanguard Group Inc. raised its stake in shares of Shopify by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after acquiring an additional 743,803 shares during the period. Norges Bank purchased a new position in shares of Shopify during the 4th quarter worth about $2,611,797,000. Geode Capital Management LLC grew its holdings in Shopify by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock valued at $2,043,365,000 after purchasing an additional 737,892 shares during the last quarter. Sands Capital Management LLC grew its holdings in Shopify by 37.0% during the 4th quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock valued at $1,530,187,000 after purchasing an additional 2,568,765 shares during the last quarter. Finally, TD Asset Management Inc raised its position in Shopify by 2.2% in the 4th quarter. TD Asset Management Inc now owns 8,713,762 shares of the software maker’s stock worth $1,404,790,000 after purchasing an additional 185,252 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SHOP. Phillip Securities raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Piper Sandler reissued an “overweight” rating and issued a $150.00 price objective (down from $165.00) on shares of Shopify in a research report on Tuesday, May 5th. DA Davidson dropped their target price on shares of Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $140.00 target price (down from $150.00) on shares of Shopify in a research report on Tuesday, May 5th. Finally, Barclays set a $126.00 price target on Shopify and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Stock Performance

NASDAQ:SHOP opened at $108.24 on Monday. The firm has a 50-day simple moving average of $113.99 and a 200-day simple moving average of $131.44. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19. The firm has a market cap of $140.46 billion, a P/E ratio of 107.17, a P/E/G ratio of 3.03 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, research analysts predict that Shopify Inc. will post 1.36 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.