PBU The Pension Fund of Early Childhood & Youth Educators Buys Shares of 93,630 Shopify Inc. $SHOP

PBU The Pension Fund of Early Childhood & Youth Educators bought a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 4th quarter, HoldingsChannel reports. The fund bought 93,630 shares of the software maker’s stock, valued at approximately $15,072,000.

Several other institutional investors also recently bought and sold shares of the company. WINTON GROUP Ltd boosted its stake in Shopify by 47.6% in the fourth quarter. WINTON GROUP Ltd now owns 49,158 shares of the software maker’s stock valued at $7,913,000 after acquiring an additional 15,858 shares in the last quarter. Parallel Advisors LLC boosted its stake in Shopify by 4.3% in the fourth quarter. Parallel Advisors LLC now owns 23,853 shares of the software maker’s stock valued at $3,840,000 after acquiring an additional 983 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in Shopify in the fourth quarter valued at approximately $314,000. Total Wealth Planning & Management Inc. acquired a new stake in Shopify in the fourth quarter valued at approximately $309,000. Finally, VMS Asset Management Limited acquired a new stake in Shopify in the fourth quarter valued at approximately $5,355,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Trading Down 5.6%

NASDAQ SHOP opened at $109.54 on Friday. The company has a fifty day simple moving average of $114.55 and a two-hundred day simple moving average of $132.80. 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 $142.15 billion, a P/E ratio of 108.46, a P/E/G ratio of 3.25 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results 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. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. As a group, sell-side analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SHOP shares. Benchmark decreased their price target on shares of Shopify from $195.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Wells Fargo & Company decreased their price target on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Mizuho raised shares of Shopify from a “neutral” rating to an “outperform” rating and set a $150.00 price target for the company in a report on Thursday, February 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $150.00 price target (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Finally, Wedbush decreased their price target on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Two 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.17.

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.