Vanguard Personalized Indexing Management LLC Buys 6,827 Shares of Shopify Inc. $SHOP

Vanguard Personalized Indexing Management LLC grew its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 14.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 55,248 shares of the software maker’s stock after acquiring an additional 6,827 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Shopify were worth $6,373,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Shopify by 1.9% during 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 buying an additional 882,168 shares during the period. Mackenzie Financial Corp grew its holdings in Shopify by 19.7% in the first quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock worth $822,745,000 after purchasing an additional 1,426,406 shares during the last quarter. Nuveen LLC purchased a new position in Shopify in the first quarter worth $667,392,000. Canada Pension Plan Investment Board grew its holdings in Shopify by 34.4% in the first quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock worth $565,504,000 after purchasing an additional 1,522,573 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Shopify by 21.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker’s stock worth $539,382,000 after purchasing an additional 979,598 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 1.7%

SHOP opened at $153.66 on Tuesday. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $169.69. The company has a 50-day moving average price of $147.18 and a 200 day moving average price of $119.67. The company has a market cap of $199.71 billion, a PE ratio of 85.84, a price-to-earnings-growth ratio of 7.07 and a beta of 2.72.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SHOP shares. Weiss Ratings reissued a “hold (c)” rating on shares of Shopify in a report on Wednesday, October 8th. Royal Bank Of Canada boosted their price objective on shares of Shopify from $145.00 to $170.00 and gave the company an “outperform” rating in a 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 report on Wednesday, August 27th. DA Davidson boosted their price objective on shares of Shopify from $125.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, National Bankshares boosted their price objective on shares of Shopify from $140.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Twenty-two analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $151.95.

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.