Swiss National Bank Has $522.62 Million Stock Position in Shopify Inc. $SHOP

Swiss National Bank lowered its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,239,200 shares of the software maker’s stock after selling 271,300 shares during the quarter. Swiss National Bank owned about 0.25% of Shopify worth $522,623,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Kingdom Financial Group LLC. acquired a new position in shares of Shopify in the 4th quarter valued at $26,000. Curio Wealth LLC acquired a new position in shares of Shopify in the 4th quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Shopify in the 4th quarter valued at $29,000. Lodestone Wealth Management LLC acquired a new position in shares of Shopify in the 4th quarter valued at $31,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Shopify by 82.4% in the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock valued at $31,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SHOP. Canaccord Genuity Group cut their price target on Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Wedbush cut their price target on Shopify from $185.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Robert W. Baird set a $150.00 price target on Shopify in a research note on Wednesday, May 6th. Truist Financial set a $150.00 price target on Shopify and gave the company a “buy” rating in a research note on Tuesday, February 17th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $140.00 price objective (down from $150.00) on shares of Shopify in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Trading Up 2.1%

Shares of Shopify stock opened at $110.47 on Friday. The company has a market capitalization of $143.35 billion, a PE ratio of 109.38, a PEG ratio of 3.03 and a beta of 2.60. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The stock’s fifty day simple moving average is $114.20 and its 200 day simple moving average is $131.77.

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

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.