VMS Asset Management Limited Takes Position in Shopify Inc. $SHOP

VMS Asset Management Limited purchased a new stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 33,270 shares of the software maker’s stock, valued at approximately $5,355,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Shopify by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after acquiring an additional 743,803 shares during the last quarter. Norges Bank purchased a new stake in shares of Shopify during the 4th quarter valued at about $2,611,797,000. Geode Capital Management LLC boosted its holdings in shares of Shopify by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock valued at $2,043,365,000 after acquiring an additional 737,892 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Shopify by 2.2% in the 4th quarter. TD Asset Management Inc now owns 8,713,762 shares of the software maker’s stock worth $1,404,790,000 after purchasing an additional 185,252 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Shopify by 3.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,588,934 shares of the software maker’s stock worth $978,679,000 after purchasing an additional 213,315 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

SHOP has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $175.00 price objective on shares of Shopify in a research note on Thursday, February 12th. UBS Group reiterated a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. National Bank Financial lowered their price objective on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Citizens Jmp lowered their price objective on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 6th. Finally, TD Cowen upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research note on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $157.17.

Shopify Trading Up 2.7%

NASDAQ SHOP opened at $116.04 on Friday. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The stock has a market cap of $150.58 billion, a price-to-earnings ratio of 114.89, a PEG ratio of 3.17 and a beta of 2.60. The company’s 50 day moving average is $114.73 and its two-hundred day moving average is $132.97.

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

Shopify 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.