VMS Asset Management Limited Acquires Shares of 33,270 Shopify Inc. $SHOP

VMS Asset Management Limited purchased a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 33,270 shares of the software maker’s stock, valued at approximately $5,355,000.

Several other institutional investors also recently modified their holdings of the business. Prudential PLC increased its stake in shares of Shopify by 5.2% in the 4th quarter. Prudential PLC now owns 71,489 shares of the software maker’s stock worth $11,543,000 after acquiring an additional 3,518 shares in the last quarter. Curio Wealth LLC bought a new position in shares of Shopify in the 4th quarter worth about $27,000. Vise Technologies Inc. increased its stake in shares of Shopify by 9.4% in the 4th quarter. Vise Technologies Inc. now owns 34,444 shares of the software maker’s stock worth $5,545,000 after acquiring an additional 2,962 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Shopify by 6.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 171,800 shares of the software maker’s stock worth $27,655,000 after acquiring an additional 9,793 shares in the last quarter. Finally, Verus Capital Partners LLC increased its stake in shares of Shopify by 9.8% in the 4th quarter. Verus Capital Partners LLC now owns 4,138 shares of the software maker’s stock worth $666,000 after acquiring an additional 371 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

Shares of SHOP stock opened at $116.04 on Friday. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19. The company’s 50-day moving average is $114.73 and its 200 day moving average is $132.97. The company has a market capitalization of $150.58 billion, a price-to-earnings ratio of 114.89, a price-to-earnings-growth ratio of 3.17 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced 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. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. As a group, research analysts predict that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SHOP shares. Truist Financial set a $150.00 price target on shares of Shopify and gave the stock a “buy” rating in a research note on Tuesday, February 17th. DA Davidson decreased their price target on shares of Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Barclays set a $126.00 price target on shares of Shopify and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $126.00 price target (down from $181.00) on shares of Shopify in a research note on Thursday, February 12th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $140.00 price target (down from $150.00) on shares of Shopify in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

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.