Aviva PLC Grows Stock Position in Shopify Inc. $SHOP

Aviva PLC boosted its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,023,213 shares of the software maker’s stock after buying an additional 55,439 shares during the quarter. Aviva PLC owned approximately 0.08% of Shopify worth $164,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of SHOP. Norges Bank purchased a new stake in Shopify during the 4th quarter worth about $2,611,797,000. Thrivent Financial for Lutherans increased its position 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 buying an additional 1,132,545 shares during the period. Select Equity Group L.P. increased its position 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 buying an additional 1,079,494 shares during the period. Steadfast Capital Management LP bought a new stake in shares of Shopify during the third quarter valued at about $140,930,000. Finally, Vanguard Group Inc. increased its position in shares of Shopify by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after buying an additional 743,803 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 2.1%

Shopify stock opened at $110.47 on Friday. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The business has a 50-day simple moving average of $114.20 and a 200 day simple moving average of $131.77. The stock has a market cap of $143.35 billion, a price-to-earnings ratio of 109.38, a PEG ratio of 3.03 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping 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 business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. On average, research analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current year.

Analysts Set New Price Targets

SHOP has been the topic of several analyst reports. National Bank Financial decreased their price target on Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. UBS Group reiterated a “neutral” rating on shares of Shopify in a research report on Thursday, May 28th. Citigroup decreased their price target on Shopify from $163.00 to $156.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Wedbush decreased their price target on Shopify from $185.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Finally, Citizens Jmp dropped 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. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.17.

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.