Healthcare of Ontario Pension Plan Trust Fund Has $195.58 Million Holdings in Shopify Inc. $SHOP

Healthcare of Ontario Pension Plan Trust Fund lowered its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 14.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,215,033 shares of the software maker’s stock after selling 210,765 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Shopify were worth $195,584,000 as of its most recent SEC filing.

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

Shopify Stock Down 2.0%

SHOP stock opened at $108.24 on Friday. The company has a market capitalization of $140.46 billion, a price-to-earnings ratio of 107.17, a P/E/G 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 firm has a 50 day moving average of $113.99 and a two-hundred day moving average of $131.61.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results 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 company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. On average, research analysts expect that Shopify Inc. will post 1.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $170.00 price target on shares of Shopify in a report on Wednesday, May 6th. Piper Sandler restated an “overweight” rating and set a $150.00 price target (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. National Bank Financial cut their price target on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. BMO Capital Markets cut their price target on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Finally, Citigroup dropped their price objective on shares of Shopify from $163.00 to $156.00 and set a “buy” 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 given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, 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.