O Shaughnessy Asset Management LLC Boosts Holdings in Shopify Inc. $SHOP

O Shaughnessy Asset Management LLC increased its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 211,068 shares of the software maker’s stock after buying an additional 21,235 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Shopify were worth $33,981,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SHOP. Kingdom Financial Group LLC. purchased a new position in shares of Shopify in the fourth quarter worth approximately $26,000. Curio Wealth LLC purchased a new position in shares of Shopify in the fourth quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Shopify in the fourth quarter worth approximately $29,000. Lodestone Wealth Management LLC purchased a new position in shares of Shopify in the fourth quarter worth approximately $31,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of Shopify by 82.4% in the fourth quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of SHOP opened at $110.78 on Tuesday. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The company has a 50 day simple moving average of $114.46 and a two-hundred day simple moving average of $132.54. The firm has a market cap of $143.75 billion, a P/E ratio of 109.68, a price-to-earnings-growth ratio of 3.07 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. On average, sell-side analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of recent analyst reports. Wedbush decreased their target price on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Needham & Company LLC reiterated a “buy” rating and issued a $180.00 price target on shares of Shopify in a research report on Tuesday, May 5th. Benchmark dropped their price target on shares of Shopify from $195.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Moffett Nathanson upgraded Shopify from a “neutral” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Monday, February 9th. Finally, DA Davidson dropped their price objective on Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research note 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 given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.17.

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.