Intech Investment Management LLC Grows Stock Position in Shopify Inc. $SHOP

Intech Investment Management LLC increased its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 15.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 222,306 shares of the software maker’s stock after buying an additional 29,944 shares during the quarter. Intech Investment Management LLC’s holdings in Shopify were worth $35,841,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Moloney Securities Asset Management LLC raised its position in Shopify by 1.8% in the third quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock valued at $587,000 after purchasing an additional 70 shares during the period. Seros Financial LLC raised its position in Shopify by 2.7% in the third quarter. Seros Financial LLC now owns 2,856 shares of the software maker’s stock valued at $424,000 after purchasing an additional 75 shares during the period. First Affirmative Financial Network raised its position in Shopify by 3.4% in the third quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker’s stock valued at $338,000 after purchasing an additional 75 shares during the period. TBH Global Asset Management LLC raised its position in Shopify by 1.2% in the fourth quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock valued at $1,036,000 after purchasing an additional 75 shares during the period. Finally, Strategic Advisors LLC raised its position in Shopify by 0.3% in the third quarter. Strategic Advisors LLC now owns 28,785 shares of the software maker’s stock valued at $4,278,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SHOP. ATB Cormark Capital Markets raised Shopify from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Needham & Company LLC reissued a “buy” rating and issued a $180.00 target price on shares of Shopify in a research report on Tuesday, May 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $170.00 target price on shares of Shopify in a research report on Wednesday, May 6th. Phillip Securities raised Shopify from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $140.00 target price (down from $150.00) on shares of Shopify in a research report on Tuesday, May 5th. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Shopify Price Performance

NASDAQ SHOP opened at $115.03 on Friday. The firm’s fifty day moving average price is $114.81 and its 200 day moving average price is $134.17. The company has a market capitalization of $149.27 billion, a price-to-earnings ratio of 113.89, a price-to-earnings-growth ratio of 2.99 and a beta of 2.64. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $998.78. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. As a group, sell-side analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current 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.