Bessemer Group Inc. Has $104.37 Million Stock Holdings in Shopify Inc. $SHOP

Bessemer Group Inc. reduced its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 702,327 shares of the software maker’s stock after selling 59,292 shares during the period. Bessemer Group Inc.’s holdings in Shopify were worth $104,371,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Financial Gravity Companies Inc. bought a new stake in shares of Shopify in the 2nd quarter valued at approximately $27,000. Rothschild Investment LLC boosted its stake in Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Heartwood Wealth Advisors LLC acquired a new stake in Shopify in the 3rd quarter valued at $27,000. Tradewinds Capital Management LLC grew its position in Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after acquiring an additional 100 shares during the period. Finally, Estabrook Capital Management acquired a new stake in shares of Shopify during the 2nd quarter worth about $29,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $111.24 on Friday. The business’s fifty day moving average price is $155.28 and its two-hundred day moving average price is $150.97. The firm has a market capitalization of $144.82 billion, a price-to-earnings ratio of 82.40, a PEG ratio of 3.36 and a beta of 2.83. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19.

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

Analysts Set New Price Targets

Several analysts have weighed in on SHOP shares. BNP Paribas Exane started coverage on shares of Shopify in a research note on Monday, November 24th. They set a “neutral” rating on the stock. Oppenheimer reissued an “outperform” rating on shares of Shopify in a report on Monday, December 1st. DA Davidson raised their price target on Shopify from $185.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. CIBC reiterated an “outperform” rating on shares of Shopify in a research report on Wednesday, November 5th. Finally, Citigroup restated a “market outperform” rating on shares of Shopify in a report on Thursday, December 4th. Twenty-five investment analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus target price of $171.70.

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.