Natixis Advisors LLC raised its holdings in shares of Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 7.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,586,104 shares of the software maker’s stock after purchasing an additional 107,057 shares during the period. Natixis Advisors LLC owned 0.12% of Shopify worth $255,315,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of SHOP. Norges Bank purchased a new position in shares of Shopify in the 4th quarter worth approximately $2,611,797,000. Thrivent Financial for Lutherans increased its holdings in shares of 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 valued at $184,883,000 after purchasing an additional 1,132,545 shares in the last quarter. Select Equity Group L.P. increased its holdings in Shopify by 92.5% in 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 in the last quarter. Steadfast Capital Management LP purchased a new stake in Shopify in the 3rd quarter worth $140,930,000. Finally, Vanguard Group Inc. increased its holdings in Shopify by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock worth $8,158,643,000 after acquiring an additional 743,803 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $150.00 price target (down from $165.00) on shares of Shopify in a research report on Tuesday, May 5th. Truist Financial set a $150.00 price objective on shares of Shopify and gave the company a “buy” rating in a research note on Tuesday, February 17th. Citigroup lowered their price objective on shares of Shopify from $163.00 to $156.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Canaccord Genuity Group lowered their price objective on shares of Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, Robert W. Baird set a $150.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.17.
Shopify Price Performance
NASDAQ:SHOP opened at $124.12 on Tuesday. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19. The firm’s fifty day moving average price is $114.75 and its 200 day moving average price is $133.64. The firm has a market cap of $161.06 billion, a price-to-earnings ratio of 122.89, a price-to-earnings-growth ratio of 3.33 and a beta of 2.64.
Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last announced its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share 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 firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. As a group, analysts expect that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.
Shopify 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.
Featured Articles
- Five stocks we like better than Shopify
- Why 1 Little-Known ETF Is Riding the AI Chip Shortage
- Why These Three Big Buybacks Are Sending Very Different Signals to Investors
- Drone Stocks Soar As Pentagon Considers Funding, Including a Trump-Linked Name
- Braze Blazes Ahead on Q1 2027 Earnings Beat, Raised Guidance
Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP).
Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.png){kind=logo}
