ABN AMRO Bank N.V. Has $1.16 Million Holdings in Shopify Inc. $SHOP

ABN AMRO Bank N.V. lessened its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 51.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,193 shares of the software maker’s stock after selling 7,758 shares during the period. ABN AMRO Bank N.V.’s holdings in Shopify were worth $1,158,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SHOP. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shopify during the fourth quarter worth $29,000. Lodestone Wealth Management LLC acquired a new position in shares of Shopify during the 4th quarter worth $31,000. Sound Income Strategies LLC raised its holdings in shares of Shopify by 82.4% during the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after buying an additional 89 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of Shopify during the 3rd quarter worth $32,000. Finally, Caitlin John LLC acquired a new stake in Shopify in the third quarter valued at about $36,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $102.54 on Tuesday. The company’s 50 day moving average price is $121.09 and its 200-day moving average price is $140.15. Shopify Inc. has a 52-week low of $99.01 and a 52-week high of $182.19. The company has a market capitalization of $133.72 billion, a P/E ratio of 101.53, a price-to-earnings-growth ratio of 3.11 and a beta of 2.64.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping the consensus estimate of $0.22 by $998.78. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. Analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SHOP shares. Wells Fargo & Company decreased their target price on Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. TD Cowen upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research note on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $175.00 price target on shares of Shopify in a report on Thursday, February 12th. DZ Bank upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Finally, DA Davidson cut their target price on shares of Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.42.

About Shopify

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.