AEGON ASSET MANAGEMENT UK Plc Has $43.03 Million Stock Position in Shopify Inc. $SHOP

AEGON ASSET MANAGEMENT UK Plc lessened its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 15.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 364,254 shares of the software maker’s stock after selling 66,355 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Shopify were worth $43,030,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

SHOP has been the topic of several research reports. Citizens Jmp lowered their price objective on Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 price objective on shares of Shopify in a report on Wednesday, May 6th. Citigroup reiterated a “market outperform” rating on shares of Shopify in a research report on Thursday. Royal Bank Of Canada reissued an “outperform” rating and set a $170.00 target price on shares of Shopify in a report on Wednesday, May 6th. Finally, Wells Fargo & Company decreased their price target on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Stock Performance

NASDAQ SHOP opened at $108.85 on Friday. The business’s 50-day moving average price is $113.17 and its two-hundred day moving average price is $129.94. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The firm has a market capitalization of $141.25 billion, a PE ratio of 107.77, a price-to-earnings-growth ratio of 3.05 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, beating the consensus estimate of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. As a group, analysts forecast that Shopify Inc. will post 1.39 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.