Franchise Capital Ltd Acquires New Position in Shopify Inc. $SHOP

Franchise Capital Ltd bought a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,119 shares of the software maker’s stock, valued at approximately $761,000. Shopify comprises approximately 0.3% of Franchise Capital Ltd’s portfolio, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SHOP. Vanguard Group Inc. lifted its holdings in shares of Shopify by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 49,316,695 shares of the software maker’s stock worth $5,688,053,000 after purchasing an additional 1,354,415 shares during the last quarter. Norges Bank acquired a new stake in Shopify in the second quarter worth $1,794,952,000. Loomis Sayles & Co. L P lifted its stake in Shopify by 1.3% in the second quarter. Loomis Sayles & Co. L P now owns 14,622,787 shares of the software maker’s stock valued at $1,686,738,000 after buying an additional 191,824 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Shopify by 118.1% during the second quarter. Jennison Associates LLC now owns 11,519,610 shares of the software maker’s stock valued at $1,328,787,000 after acquiring an additional 6,238,829 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Shopify by 19.9% during the second quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after acquiring an additional 1,781,530 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

NASDAQ SHOP opened at $157.99 on Friday. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19. The firm has a market capitalization of $205.68 billion, a PE ratio of 117.03, a P/E/G ratio of 4.65 and a beta of 2.83. The company’s 50 day simple moving average is $159.98 and its 200 day simple moving average is $149.03.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Shopify had a return on equity of 11.72% and a net margin of 16.65%.The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. Sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

SHOP has been the topic of several recent research reports. Zacks Research downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. DZ Bank upgraded shares of Shopify from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Barclays set a $140.00 price objective on Shopify and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $180.00 price objective on shares of Shopify in a report on Wednesday, November 5th. Finally, BMO Capital Markets raised their target price on Shopify from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Twenty-four research analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company. According to MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $171.61.

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.