Virtu Financial LLC Has $1.68 Million Stock Position in Shopify Inc. $SHOP

Virtu Financial LLC grew its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 305.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,418 shares of the software maker’s stock after acquiring an additional 7,848 shares during the period. Virtu Financial LLC’s holdings in Shopify were worth $1,677,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SHOP. Norges Bank bought a new position in shares of Shopify in the 4th quarter valued at $2,611,797,000. Sands Capital Management LLC grew its position in Shopify by 37.0% during the 4th quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock worth $1,530,187,000 after acquiring an additional 2,568,765 shares during the last quarter. Invesco Ltd. grew its position in Shopify by 9.8% during the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock worth $2,257,796,000 after acquiring an additional 1,252,074 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Shopify by 7,207.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock worth $184,883,000 after purchasing an additional 1,132,545 shares in the last quarter. Finally, Select Equity Group L.P. increased its holdings in Shopify by 92.5% in the 2nd quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock worth $259,124,000 after purchasing an additional 1,079,494 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of SHOP opened at $108.85 on Friday. The business has a 50-day moving average of $113.17 and a 200-day moving average of $129.94. The company has a market capitalization of $141.25 billion, a price-to-earnings ratio of 107.77, a price-to-earnings-growth ratio of 3.05 and a beta of 2.60. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. As a group, sell-side analysts anticipate that Shopify Inc. will post 1.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SHOP shares. UBS Group reiterated a “neutral” rating on shares of Shopify in a research report on Thursday, May 28th. Canaccord Genuity Group reduced their price target on Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Barclays set a $126.00 price objective on Shopify and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Weiss Ratings lowered shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $180.00 target price 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 assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.