Mn Services Vermogensbeheer B.V. Boosts Stock Holdings in Shopify Inc. $SHOP

Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 463,040 shares of the software maker’s stock after buying an additional 7,800 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Shopify were worth $68,807,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Latitude Advisors LLC grew its stake in Shopify by 2.5% in the 3rd quarter. Latitude Advisors LLC now owns 3,884 shares of the software maker’s stock valued at $577,000 after buying an additional 95 shares in the last quarter. Birch Financial Group LLC boosted its holdings in shares of Shopify by 3.4% in the third quarter. Birch Financial Group LLC now owns 6,423 shares of the software maker’s stock worth $955,000 after acquiring an additional 210 shares during the period. Jennison Associates LLC grew its position in shares of Shopify by 64.3% in the third quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock valued at $2,812,211,000 after purchasing an additional 7,403,821 shares in the last quarter. Facet Wealth Inc. bought a new stake in shares of Shopify during the 3rd quarter valued at $760,000. Finally, iA Global Asset Management Inc. lifted its holdings in Shopify by 4.8% during the 3rd quarter. iA Global Asset Management Inc. now owns 141,324 shares of the software maker’s stock worth $21,002,000 after purchasing an additional 6,414 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $137.89 on Friday. The company’s fifty day moving average price is $159.00 and its 200-day moving average price is $150.25. The firm has a market capitalization of $179.51 billion, a price-to-earnings ratio of 102.14, a PEG ratio of 4.07 and a beta of 2.83. Shopify Inc. has a one year low of $69.84 and a one year high of $182.19.

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

Analyst Ratings Changes

A number of research analysts have weighed in on SHOP shares. Barclays set a $140.00 target price on Shopify and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Zacks Research lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Stifel Nicolaus set a $175.00 target price on shares of Shopify in a report on Tuesday, November 4th. CIBC reissued an “outperform” rating on shares of Shopify in a report on Wednesday, November 5th. Finally, UBS Group set a $195.00 price target on shares of Shopify in a research report on Wednesday, December 3rd. Twenty-four equities research analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $171.61.

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.