Aviva PLC Purchases 55,439 Shares of Shopify Inc. $SHOP

Aviva PLC grew its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 5.7% in the 4th quarter, HoldingsChannel reports. The firm owned 1,023,213 shares of the software maker’s stock after acquiring an additional 55,439 shares during the quarter. Aviva PLC’s holdings in Shopify were worth $164,880,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings 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 worth $8,158,643,000 after buying an additional 743,803 shares during the period. Norges Bank purchased a new position in shares of Shopify in the fourth quarter worth about $2,611,797,000. Geode Capital Management LLC increased its holdings in shares of Shopify by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock worth $2,043,365,000 after buying an additional 737,892 shares during the period. TD Asset Management Inc increased its holdings in shares of Shopify by 2.2% in the fourth quarter. TD Asset Management Inc now owns 8,713,762 shares of the software maker’s stock worth $1,404,790,000 after buying an additional 185,252 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Shopify by 3.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,588,934 shares of the software maker’s stock worth $978,679,000 after buying an additional 213,315 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

SHOP stock opened at $110.47 on Friday. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The business’s 50 day moving average price is $114.20 and its two-hundred day moving average price is $131.77. The company has a market capitalization of $143.35 billion, a price-to-earnings ratio of 109.38, a price-to-earnings-growth ratio of 3.03 and a beta of 2.60.

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

Analyst Ratings Changes

Several research analysts have recently commented on SHOP shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $170.00 price objective on shares of Shopify in a report on Wednesday, May 6th. National Bank Financial decreased their price objective on Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Weiss Ratings downgraded Shopify from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Oppenheimer restated an “outperform” rating and set a $175.00 price target on shares of Shopify in a report on Wednesday, May 6th. 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 equities research 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 stock. According to data from MarketBeat, 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.