Shopify Inc. $SHOP Stake Boosted by Mirova US LLC

Mirova US LLC increased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 48.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,024,755 shares of the software maker’s stock after acquiring an additional 990,596 shares during the period. Shopify comprises about 3.6% of Mirova US LLC’s investment portfolio, making the stock its 8th biggest holding. Mirova US LLC owned 0.23% of Shopify worth $348,905,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SHOP. Brighton Jones LLC grew its holdings in shares of 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. Park Avenue Securities LLC grew its holdings in shares of Shopify by 7.0% in the first quarter. Park Avenue Securities LLC now owns 37,748 shares of the software maker’s stock worth $3,604,000 after acquiring an additional 2,470 shares during the period. Capital Investment Advisors LLC grew its holdings in shares of Shopify by 16.9% in the first quarter. Capital Investment Advisors LLC now owns 4,679 shares of the software maker’s stock worth $447,000 after acquiring an additional 676 shares during the period. Toth Financial Advisory Corp grew its holdings in shares of Shopify by 42.6% in the first quarter. Toth Financial Advisory Corp now owns 8,775 shares of the software maker’s stock worth $838,000 after acquiring an additional 2,623 shares during the period. Finally, Moss Adams Wealth Advisors LLC bought a new stake in shares of Shopify in the first quarter worth $205,000. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SHOP. Cantor Fitzgerald set a $156.00 price objective on Shopify and gave the stock a “neutral” rating in a report on Wednesday, August 27th. TD Securities lifted their price objective on Shopify from $130.00 to $156.00 and gave the stock a “hold” rating in a report on Friday, October 3rd. Citigroup boosted their price target on Shopify from $155.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 8th. Scotiabank reissued a “sector perform” rating and set a $150.00 price target (up previously from $115.00) on shares of Shopify in a report on Thursday, August 7th. Finally, Barclays boosted their price target on Shopify from $94.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th. Twenty-two equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $151.95.

Shopify Stock Down 2.0%

NASDAQ SHOP opened at $161.28 on Wednesday. The firm has a market cap of $209.61 billion, a price-to-earnings ratio of 90.10, a price-to-earnings-growth ratio of 7.70 and a beta of 2.72. The business has a 50-day moving average price of $144.26 and a 200-day moving average price of $118.06. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $169.69.

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

Shopify Company Profile

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.