Shopify Inc. $SHOP Stake Lifted by Louisbourg Investments Inc.

Louisbourg Investments Inc. raised its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 84.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 123,616 shares of the software maker’s stock after purchasing an additional 56,746 shares during the period. Shopify comprises 2.6% of Louisbourg Investments Inc.’s portfolio, making the stock its 4th biggest position. Louisbourg Investments Inc.’s holdings in Shopify were worth $14,638,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SHOP. Brighton Jones LLC lifted its stake in Shopify by 2.8% in the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after acquiring an additional 584 shares during the period. AQR Capital Management LLC increased its position in Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after purchasing an additional 7,544 shares during the period. Sivia Capital Partners LLC raised its holdings in shares of Shopify by 6.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock valued at $945,000 after purchasing an additional 506 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Shopify in the 2nd quarter worth approximately $53,000. Finally, Main Street Financial Solutions LLC boosted its stake in shares of Shopify by 15.3% during the second quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock valued at $1,284,000 after purchasing an additional 1,479 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Trading Up 4.7%

NASDAQ SHOP opened at $116.86 on Friday. The firm’s fifty day simple moving average is $112.68 and its two-hundred day simple moving average is $128.33. The firm has a market capitalization of $151.64 billion, a P/E ratio of 115.70, a P/E/G ratio of 3.21 and a beta of 2.60. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued 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. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. As a group, sell-side analysts predict that Shopify Inc. will post 1.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SHOP shares. Citigroup reissued a “market outperform” rating on shares of Shopify in a report on Thursday, June 18th. UBS Group reiterated a “neutral” rating on shares of Shopify in a report on Thursday, May 28th. Needham & Company LLC restated a “buy” rating and set a $180.00 price objective on shares of Shopify in a research note on Tuesday, May 5th. Weiss Ratings downgraded Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $170.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.17.

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.