Infusive Asset Management Inc. lessened its holdings in shares of Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 12.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,237 shares of the software maker’s stock after selling 4,898 shares during the quarter. Shopify makes up 2.4% of Infusive Asset Management Inc.’s investment portfolio, making the stock its 18th largest holding. Infusive Asset Management Inc.’s holdings in Shopify were worth $5,511,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. M&T Bank Corp raised its position in shares of Shopify by 37.1% in the fourth quarter. M&T Bank Corp now owns 81,082 shares of the software maker’s stock valued at $13,051,000 after purchasing an additional 21,945 shares during the period. Triasima Portfolio Management inc. boosted its holdings in shares of Shopify by 11.0% during the 4th quarter. Triasima Portfolio Management inc. now owns 182,338 shares of the software maker’s stock worth $29,398,000 after buying an additional 18,028 shares during the period. Assetmark Inc. boosted its holdings in shares of Shopify by 6.7% during the 4th quarter. Assetmark Inc. now owns 213,583 shares of the software maker’s stock worth $34,380,000 after buying an additional 13,415 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Shopify by 286.6% during the 4th quarter. SG Americas Securities LLC now owns 508,723 shares of the software maker’s stock worth $81,889,000 after buying an additional 377,129 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Shopify by 12.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 526,114 shares of the software maker’s stock worth $84,689,000 after buying an additional 59,745 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. Barclays set a $126.00 price objective on shares of Shopify and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Shopify in a report on Wednesday, May 6th. DZ Bank raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Robert W. Baird set a $150.00 price objective on shares of Shopify in a report on Wednesday, May 6th. Finally, DA Davidson decreased their price objective on shares of Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a report 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 issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $157.17.
Shopify Stock Down 2.0%
Shares of SHOP stock opened at $108.24 on Friday. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The firm has a market cap of $140.46 billion, a PE ratio of 107.17, a price-to-earnings-growth ratio of 3.03 and a beta of 2.60. The stock has a 50 day moving average of $113.99 and a 200-day moving average of $131.61.
Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS 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 company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. As a group, equities analysts predict that Shopify Inc. will post 1.36 EPS for the current fiscal year.
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.
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