Shopify Inc. $SHOP Shares Bought by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. grew its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 63.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,443 shares of the software maker’s stock after acquiring an additional 8,360 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Shopify were worth $3,452,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of SHOP. Norges Bank acquired a new position in shares of Shopify during the fourth quarter valued at $2,611,797,000. Thrivent Financial for Lutherans boosted its holdings in shares of Shopify by 7,207.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock valued at $184,883,000 after acquiring an additional 1,132,545 shares during the period. Select Equity Group L.P. boosted its holdings in shares of Shopify by 92.5% during the second quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock valued at $259,124,000 after acquiring an additional 1,079,494 shares during the period. Steadfast Capital Management LP acquired a new position in shares of Shopify during the third quarter valued at $140,930,000. Finally, ICONIQ Capital LLC boosted its holdings in shares of Shopify by 47.3% during the fourth quarter. ICONIQ Capital LLC now owns 2,456,052 shares of the software maker’s stock valued at $395,351,000 after acquiring an additional 788,450 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Citizens Jmp reduced their price objective on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Shopify in a report on Tuesday, May 5th. Canaccord Genuity Group reduced their price objective on shares of Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $150.00 price objective (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Finally, Barclays set a $126.00 price objective on shares of Shopify and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Two equities 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Stock Performance

NASDAQ SHOP opened at $108.24 on Monday. The stock’s 50-day moving average price is $113.99 and its two-hundred day moving average price is $131.44. The company has a market cap of $140.46 billion, a PE ratio of 107.17, a PEG ratio of 3.03 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 posted its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $998.78. The firm 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%. Research analysts forecast that Shopify Inc. will post 1.36 EPS for the current fiscal 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.