Shopify Inc. $SHOP Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc grew its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 191.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,264 shares of the software maker’s stock after acquiring an additional 3,458 shares during the period. Versant Capital Management Inc’s holdings in Shopify were worth $782,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Heartwood Wealth Advisors LLC acquired a new stake in Shopify in the 3rd quarter valued at $27,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Shopify in the second quarter valued at about $25,000. Rothschild Investment LLC raised its holdings in shares of Shopify by 47.5% during the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after buying an additional 75 shares during the period. Financial Gravity Companies Inc. purchased a new stake in shares of Shopify during the 2nd quarter valued at about $27,000. Finally, Tradewinds Capital Management LLC lifted its position in Shopify by 71.4% during the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

NASDAQ:SHOP opened at $157.51 on Thursday. The company has a market capitalization of $205.05 billion, a price-to-earnings ratio of 116.67, a price-to-earnings-growth ratio of 4.97 and a beta of 2.83. Shopify Inc. has a one year low of $69.84 and a one year high of $182.19. The stock has a 50-day simple moving average of $159.94 and a 200 day simple moving average of $148.96.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. On average, equities research analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on SHOP. Morgan Stanley reaffirmed an “overweight” rating and issued a $192.00 price objective (up previously from $165.00) on shares of Shopify in a research report on Wednesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 price target on shares of Shopify in a report on Wednesday, November 5th. Citigroup reaffirmed a “market outperform” rating on shares of Shopify in a research note on Thursday, December 4th. TD Cowen reiterated a “hold” rating and issued a $156.00 price objective on shares of Shopify in a report on Friday, October 3rd. Finally, BNP Paribas Exane initiated coverage on Shopify in a research note on Monday, November 24th. They set a “neutral” rating for the company. Twenty-four investment analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $171.61.

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.