Spear Advisors LLC Makes New $5.57 Million Investment in Shopify Inc. $SHOP

Spear Advisors LLC acquired a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 34,573 shares of the software maker’s stock, valued at approximately $5,565,000. Shopify makes up about 3.9% of Spear Advisors LLC’s investment portfolio, making the stock its 14th largest holding.

A number of other institutional investors have also added to or reduced their stakes in SHOP. Norges Bank purchased a new position in Shopify in the fourth quarter valued at about $2,611,797,000. Jennison Associates LLC boosted its stake in Shopify by 64.3% in the third quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock valued at $2,812,211,000 after acquiring an additional 7,403,821 shares during the last quarter. Sands Capital Management LLC boosted its stake in Shopify by 37.0% in the fourth quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock valued at $1,530,187,000 after acquiring an additional 2,568,765 shares during the last quarter. Invesco Ltd. boosted its stake in Shopify by 9.8% in the fourth quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after acquiring an additional 1,252,074 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Shopify by 7,207.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock valued at $184,883,000 after acquiring an additional 1,132,545 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Stock Performance

Shares of SHOP stock opened at $100.28 on Monday. The stock has a market capitalization of $130.13 billion, a P/E ratio of 99.29, a PEG ratio of 2.81 and a beta of 2.64. The firm’s 50 day moving average is $119.12 and its 200 day moving average is $138.15. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. On average, equities analysts predict that Shopify Inc. will post 1.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings cut shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $180.00 target price on shares of Shopify in a research note on Tuesday, May 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $170.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $126.00 target price (down from $181.00) on shares of Shopify in a research note on Thursday, February 12th. Finally, Wells Fargo & Company dropped their target price on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average price target of $158.42.

Shopify Company Profile

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.