Mn Services Vermogensbeheer B.V. Purchases 8,632 Shares of Shopify Inc. $SHOP

Mn Services Vermogensbeheer B.V. grew its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 471,672 shares of the software maker’s stock after purchasing an additional 8,632 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Shopify were worth $76,045,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Shopify by 1.2% during the third quarter. Vanguard Group Inc. now owns 49,926,824 shares of the software maker’s stock valued at $7,417,517,000 after buying an additional 610,129 shares during the period. Jennison Associates LLC increased its stake in Shopify by 64.3% in the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock worth $2,812,211,000 after acquiring an additional 7,403,821 shares during the last quarter. TD Asset Management Inc increased its stake in Shopify by 1.4% in the 3rd quarter. TD Asset Management Inc now owns 8,528,510 shares of the software maker’s stock worth $1,267,327,000 after acquiring an additional 118,836 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Shopify by 3.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,588,934 shares of the software maker’s stock valued at $978,679,000 after acquiring an additional 213,315 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Shopify by 4.4% in the 3rd quarter. Legal & General Group Plc now owns 6,188,885 shares of the software maker’s stock valued at $919,665,000 after acquiring an additional 260,968 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SHOP. Evercore set a $135.00 price objective on Shopify in a report on Wednesday, February 11th. Oppenheimer reaffirmed an “outperform” rating on shares of Shopify in a research note on Monday, December 1st. TD Cowen upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 target price for the company in a research report on Wednesday, February 11th. Truist Financial set a $150.00 price target on shares of Shopify and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Finally, Citizens Jmp decreased their price target on shares of Shopify from $200.00 to $160.00 and set a “market outperform” rating on the stock in a report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.38.

Shopify Trading Down 0.1%

Shares of NASDAQ SHOP opened at $111.77 on Tuesday. The stock’s 50-day moving average is $124.22 and its 200 day moving average is $146.90. The stock has a market cap of $145.76 billion, a price-to-earnings ratio of 120.18, a P/E/G ratio of 3.96 and a beta of 2.83. Shopify Inc. has a 1-year low of $69.84 and a 1-year 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.