Shopify Inc. $SHOP Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,682 shares of the software maker’s stock after buying an additional 671 shares during the period. International Assets Investment Management LLC’s holdings in Shopify were worth $1,694,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Nuveen LLC acquired a new stake in Shopify during the first quarter valued at approximately $667,392,000. Jennison Associates LLC lifted its position in Shopify by 324.3% in the first quarter. Jennison Associates LLC now owns 5,280,781 shares of the software maker’s stock worth $504,209,000 after purchasing an additional 4,036,326 shares during the period. Canada Pension Plan Investment Board lifted its holdings 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 acquiring an additional 1,522,573 shares during the period. Mackenzie Financial Corp raised its stake in shares of 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 acquiring an additional 1,426,406 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Shopify by 24.6% during the 1st quarter. Alliancebernstein L.P. now owns 5,554,420 shares of the software maker’s stock worth $530,336,000 after buying an additional 1,094,840 shares during the period. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SHOP shares. Truist Financial upped their price target on shares of Shopify from $95.00 to $150.00 and gave the company a “hold” rating in a report on Thursday, August 7th. BMO Capital Markets raised their target price on shares of Shopify from $120.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Shopify from $115.00 to $179.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Evercore ISI boosted their target price on shares of Shopify from $120.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, Wedbush upped their price objective on shares of Shopify from $115.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $152.76.

Shopify Price Performance

Shares of NASDAQ SHOP opened at $157.76 on Monday. Shopify Inc. has a one year low of $69.84 and a one year high of $169.69. The stock has a market capitalization of $205.03 billion, a P/E ratio of 88.13, a PEG ratio of 7.39 and a beta of 2.72. The firm’s 50 day simple moving average is $148.00 and its two-hundred day simple moving average is $121.40.

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, beating the consensus estimate of $0.29 by $0.06. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The firm’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 earnings per share. As a group, equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Shopify 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.