Virtu Financial LLC raised its holdings in Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 305.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,418 shares of the software maker’s stock after purchasing an additional 7,848 shares during the period. Virtu Financial LLC’s holdings in Shopify were worth $1,677,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $2,611,797,000. Sands Capital Management LLC grew its position in Shopify by 37.0% during the fourth quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock worth $1,530,187,000 after buying an additional 2,568,765 shares in the last quarter. Invesco Ltd. grew its position in Shopify by 9.8% during the fourth quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock worth $2,257,796,000 after buying an additional 1,252,074 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Shopify by 7,207.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock worth $184,883,000 after acquiring an additional 1,132,545 shares during the period. Finally, Select Equity Group L.P. increased its stake in Shopify by 92.5% during the 2nd quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock worth $259,124,000 after acquiring an additional 1,079,494 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.
Analyst Upgrades and Downgrades
SHOP has been the subject of a number of recent analyst reports. Robert W. Baird set a $150.00 target price on Shopify in a research report on Wednesday, May 6th. National Bank Financial decreased their price target on Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $180.00 price target on shares of Shopify in a research note on Tuesday, May 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Shopify in a research note on Wednesday, May 6th. Finally, BMO Capital Markets cut their price objective on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average price target of $157.17.
Shopify Price Performance
NASDAQ:SHOP opened at $108.85 on Friday. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The stock’s 50-day simple moving average is $113.17 and its 200 day simple moving average is $129.94. The firm has a market capitalization of $141.25 billion, a PE ratio of 107.77, a price-to-earnings-growth ratio of 3.05 and a beta of 2.60.
Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last issued its earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping the consensus estimate of $0.22 by $998.78. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. On average, analysts anticipate 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.
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