Hel Ved Capital Management Ltd Grows Stock Holdings in Shopify Inc. $SHOP

Hel Ved Capital Management Ltd increased its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 70.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,285 shares of the software maker’s stock after purchasing an additional 8,385 shares during the period. Shopify makes up 0.9% of Hel Ved Capital Management Ltd’s investment portfolio, making the stock its 28th largest holding. Hel Ved Capital Management Ltd’s holdings in Shopify were worth $3,265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Platinum Investment Management Ltd. purchased a new position in shares of Shopify during the fourth quarter valued at approximately $1,314,000. Sumitomo Life Insurance Co. raised its holdings in shares of Shopify by 0.9% during the fourth quarter. Sumitomo Life Insurance Co. now owns 11,597 shares of the software maker’s stock valued at $1,867,000 after purchasing an additional 101 shares during the last quarter. Wealthspire Advisors LLC raised its holdings in shares of Shopify by 14.5% during the fourth quarter. Wealthspire Advisors LLC now owns 20,360 shares of the software maker’s stock valued at $3,277,000 after purchasing an additional 2,572 shares during the last quarter. Atalanta Sosnoff Capital LLC raised its holdings in shares of Shopify by 1.1% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 47,979 shares of the software maker’s stock valued at $7,723,000 after purchasing an additional 513 shares during the last quarter. Finally, Howland Capital Management LLC raised its holdings in shares of Shopify by 12.8% during the fourth quarter. Howland Capital Management LLC now owns 5,456 shares of the software maker’s stock valued at $878,000 after purchasing an additional 619 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SHOP shares. Canaccord Genuity Group decreased their price objective on shares of Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. BMO Capital Markets reduced their target price on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Citizens Jmp reduced their target price on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $140.00 target price (down from $150.00) on shares of Shopify in a report on Tuesday, May 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $175.00 target price on shares of Shopify in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Trading Down 2.0%

Shares of SHOP stock opened at $108.24 on Friday. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The stock has a market cap of $140.46 billion, a P/E ratio of 107.17, a P/E/G ratio of 3.10 and a beta of 2.60. The company has a 50 day simple moving average of $113.99 and a two-hundred day simple moving average of $131.61.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. As a group, equities analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current 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.