Nordea Investment Management AB Has $4.73 Million Stock Holdings in Shopify Inc. $SHOP

Nordea Investment Management AB lifted its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 134.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 32,318 shares of the software maker’s stock after acquiring an additional 18,540 shares during the period. Nordea Investment Management AB’s holdings in Shopify were worth $4,726,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SHOP. Mirae Asset Global Investments Co. Ltd. lifted its stake in Shopify by 171.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock valued at $48,827,000 after acquiring an additional 267,271 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Shopify by 4.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,231,257 shares of the software maker’s stock worth $603,425,000 after purchasing an additional 218,829 shares during the last quarter. TriaGen Wealth Management LLC bought a new stake in shares of Shopify in the 3rd quarter valued at about $2,562,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Shopify by 9.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 400,389 shares of the software maker’s stock valued at $46,185,000 after purchasing an additional 35,113 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Shopify by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,622,495 shares of the software maker’s stock valued at $301,869,000 after purchasing an additional 67,260 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on SHOP shares. Raymond James Financial restated a “market perform” rating on shares of Shopify in a research note on Monday, December 1st. DZ Bank raised Shopify from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Barclays set a $140.00 price target on Shopify and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Benchmark reaffirmed a “buy” rating on shares of Shopify in a research report on Wednesday, December 3rd. Finally, BNP Paribas Exane initiated coverage on shares of Shopify in a report on Monday, November 24th. They issued a “neutral” rating on the stock. Twenty-four equities research analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company. According to MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $171.61.

Shopify Trading Down 1.4%

Shares of SHOP opened at $155.81 on Friday. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19. The firm’s 50 day moving average is $160.05 and its 200-day moving average is $149.56. The stock has a market capitalization of $202.84 billion, a PE ratio of 115.41, a P/E/G ratio of 4.60 and a beta of 2.83.

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