Bessemer Group Inc. Grows Stock Holdings in Shopify Inc. $SHOP

Bessemer Group Inc. grew its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 803,189 shares of the software maker’s stock after purchasing an additional 7,108 shares during the period. Bessemer Group Inc. owned about 0.06% of Shopify worth $95,274,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. TBH Global Asset Management LLC raised its position in Shopify by 1.2% in the 4th quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock worth $1,036,000 after purchasing an additional 75 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Shopify by 13.9% in the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after buying an additional 77 shares during the period. Dynamic Advisor Solutions LLC lifted its stake in shares of Shopify by 2.6% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 3,164 shares of the software maker’s stock valued at $509,000 after acquiring an additional 80 shares during the last quarter. Pacific Sage Partners LLC boosted its holdings in Shopify by 3.9% during the 4th quarter. Pacific Sage Partners LLC now owns 2,133 shares of the software maker’s stock valued at $343,000 after acquiring an additional 80 shares during the period. Finally, WealthCollab LLC increased its stake in Shopify by 26.7% in the 4th quarter. WealthCollab LLC now owns 380 shares of the software maker’s stock worth $61,000 after purchasing an additional 80 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SHOP. Needham & Company LLC reissued a “buy” rating and set a $180.00 price objective on shares of Shopify in a research note on Tuesday, May 5th. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. Bank of America began coverage on Shopify in a research note on Tuesday, July 7th. They issued a “buy” rating and a $150.00 target price on the stock. Barclays set a $126.00 price objective on Shopify and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, Susquehanna began coverage on Shopify in a report on Friday, July 10th. They set a “neutral” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.58.

Shopify Stock Down 1.2%

SHOP opened at $123.56 on Friday. The stock has a market cap of $160.34 billion, a PE ratio of 122.34, a PEG ratio of 2.71 and a beta of 2.58. The business has a 50 day moving average of $112.47 and a 200-day moving average of $123.66. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19.

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.