Vaughan Nelson Investment Management L.P. Makes New $119.30 Million Investment in Shopify Inc. $SHOP

Vaughan Nelson Investment Management L.P. purchased a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 1,005,760 shares of the software maker’s stock, valued at approximately $119,303,000. Shopify makes up 1.2% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its 17th largest position.

A number of other institutional investors have also modified their holdings of SHOP. Kingdom Financial Group LLC. acquired a new position in Shopify during the 4th quarter worth about $26,000. Curio Wealth LLC purchased a new position in Shopify during the 4th quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shopify in the 4th quarter valued at about $29,000. Lodestone Wealth Management LLC acquired a new position in Shopify in the 4th quarter valued at about $31,000. Finally, Sound Income Strategies LLC increased its stake in Shopify by 82.4% during the fourth quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after purchasing an additional 89 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP opened at $108.85 on Monday. The stock has a 50-day simple moving average of $113.17 and a 200-day simple moving average of $129.81. The stock has a market capitalization of $141.25 billion, a PE ratio of 107.77, a PEG ratio of 2.99 and a beta of 2.60. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its 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. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Analysts predict that Shopify Inc. will post 1.39 EPS for the current year.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several research reports. Robert W. Baird set a $150.00 price target on shares of Shopify in a research report on Wednesday, May 6th. National Bank Financial dropped their price objective on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $170.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Jefferies Financial Group reiterated 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, DA Davidson decreased their price target on shares of Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.