Daiwa Securities Group Inc. Has $27.66 Million Stake in Shopify Inc. $SHOP

Daiwa Securities Group Inc. lifted its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,800 shares of the software maker’s stock after acquiring an additional 9,793 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Shopify were worth $27,655,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SHOP. Brighton Jones LLC boosted its holdings in shares of Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after acquiring an additional 584 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after acquiring an additional 7,544 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Shopify by 6.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock valued at $945,000 after acquiring an additional 506 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in shares of Shopify during the 2nd quarter valued at $53,000. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of Shopify by 15.3% during the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock valued at $1,284,000 after acquiring an additional 1,479 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $150.00 price objective (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Barclays set a $126.00 target price on Shopify and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. DZ Bank raised Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Jefferies Financial Group reaffirmed a “hold” rating and set a $140.00 target price (down from $150.00) on shares of Shopify in a report on Tuesday, May 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 target price on shares of Shopify in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $109.54 on Friday. The company has a market capitalization of $142.15 billion, a price-to-earnings ratio of 108.46, a P/E/G ratio of 3.25 and a beta of 2.60. The business’s 50-day moving average is $114.55 and its 200-day moving average is $132.80. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. Analysts anticipate that Shopify Inc. will post 1.36 EPS for the current year.

About Shopify

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.