Kozak & Associates Inc. Has $317,000 Stock Holdings in Shopify Inc. $SHOP

Kozak & Associates Inc. raised its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 23.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,777 shares of the software maker’s stock after acquiring an additional 534 shares during the period. Kozak & Associates Inc.’s holdings in Shopify were worth $317,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Shopify by 1.9% in the first quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker’s stock valued at $4,563,106,000 after purchasing an additional 882,168 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Shopify by 19.7% during the first quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock worth $822,745,000 after buying an additional 1,426,406 shares during the last quarter. Nuveen LLC acquired a new position in shares of Shopify during the 1st quarter worth about $667,392,000. Canada Pension Plan Investment Board grew its position in shares of Shopify by 34.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock worth $565,504,000 after buying an additional 1,522,573 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Shopify by 21.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker’s stock valued at $539,382,000 after acquiring an additional 979,598 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Up 2.9%

Shares of NASDAQ:SHOP opened at $152.11 on Friday. The firm has a market cap of $197.69 billion, a price-to-earnings ratio of 84.98, a PEG ratio of 7.01 and a beta of 2.69. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $156.85. The company’s fifty day simple moving average is $136.50 and its 200 day simple moving average is $113.10.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the company earned $0.26 EPS. The company’s revenue was up 31.1% on a year-over-year basis. Research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Shopify from $94.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. Mizuho increased their target price on shares of Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Oppenheimer lifted their price target on shares of Shopify from $145.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Cantor Fitzgerald set a $156.00 price objective on shares of Shopify and gave the company a “neutral” rating in a research report on Wednesday, August 27th. Finally, Truist Financial lifted their target price on Shopify from $95.00 to $150.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Twenty-three analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.69.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.