5,112 Shares in Shopify Inc. $SHOP Acquired by Facet Wealth Inc.

Facet Wealth Inc. purchased a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the third quarter, HoldingsChannel reports. The institutional investor purchased 5,112 shares of the software maker’s stock, valued at approximately $760,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in 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 acquiring an additional 1,354,415 shares during the last quarter. Norges Bank acquired a new stake in shares of Shopify during the second quarter worth about $1,794,952,000. Loomis Sayles & Co. L P lifted its holdings in shares of Shopify by 1.3% during the second quarter. Loomis Sayles & Co. L P now owns 14,622,787 shares of the software maker’s stock worth $1,686,738,000 after purchasing an additional 191,824 shares during the period. Jennison Associates LLC boosted its position in Shopify by 118.1% in 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 buying an additional 6,238,829 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Shopify by 19.9% in the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after buying an additional 1,781,530 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SHOP has been the subject of a number of recent research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Shopify in a research report on Wednesday, January 7th. Raymond James Financial reiterated a “market perform” rating on shares of Shopify in a research note on Monday, December 1st. Oppenheimer restated an “outperform” rating on shares of Shopify in a research report on Monday, December 1st. National Bankshares increased their price target on Shopify from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Finally, Bank of America lifted their price objective on Shopify from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Twenty-four equities research analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average target price of $171.61.

Shopify Stock Performance

SHOP opened at $137.64 on Friday. The company has a fifty day moving average of $159.16 and a two-hundred day moving average of $150.10. The stock has a market capitalization of $179.19 billion, a price-to-earnings ratio of 101.96, a PEG ratio of 4.09 and a beta of 2.83. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, November 4th. The software maker reported $0.27 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 for the quarter, compared to analysts’ expectations of $2.75 billion. On average, equities research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.

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.