Shopify Inc. $SHOP Shares Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 5.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,470 shares of the software maker’s stock after buying an additional 6,169 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Shopify were worth $15,243,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. First Affirmative Financial Network increased its holdings in Shopify by 3.4% in the 3rd quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker’s stock worth $338,000 after acquiring an additional 75 shares in the last quarter. TBH Global Asset Management LLC lifted its holdings in Shopify by 1.2% during the fourth quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock valued at $1,036,000 after purchasing an additional 75 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Shopify by 13.9% during the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock valued at $72,000 after purchasing an additional 77 shares in the last quarter. Dynamic Advisor Solutions LLC grew its position in shares of Shopify by 2.6% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,164 shares of the software maker’s stock valued at $509,000 after purchasing an additional 80 shares during the period. Finally, Pacific Sage Partners LLC grew its position in shares of Shopify by 3.9% in the fourth quarter. Pacific Sage Partners LLC now owns 2,133 shares of the software maker’s stock valued at $343,000 after purchasing an additional 80 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

SHOP opened at $108.85 on Friday. The firm has a market capitalization of $141.25 billion, a price-to-earnings ratio of 107.77, a price-to-earnings-growth ratio of 3.05 and a beta of 2.60. The company’s 50 day simple moving average is $113.17 and its two-hundred day simple moving average is $129.94. 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 results on Tuesday, May 5th. The software maker reported $999.00 EPS 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 firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. On average, equities analysts anticipate that Shopify Inc. will post 1.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SHOP shares. Robert W. Baird set a $150.00 price target on shares of Shopify in a research report on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $180.00 price objective on shares of Shopify in a report on Tuesday, May 5th. DA Davidson cut their price objective on Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Oppenheimer reissued an “outperform” rating and set a $175.00 target price on shares of Shopify in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Shopify in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.17.

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.