Hel Ved Capital Management Ltd Purchases 8,385 Shares of Shopify Inc. $SHOP

Hel Ved Capital Management Ltd grew its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 70.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,285 shares of the software maker’s stock after purchasing an additional 8,385 shares during the quarter. Shopify makes up about 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 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. First Affirmative Financial Network increased its stake in Shopify by 3.4% in the third quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker’s stock valued at $338,000 after purchasing an additional 75 shares during the last quarter. TBH Global Asset Management LLC increased its stake in Shopify by 1.2% in the fourth quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock valued at $1,036,000 after purchasing an additional 75 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Shopify by 13.9% in the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock valued at $72,000 after purchasing an additional 77 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in Shopify by 2.6% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,164 shares of the software maker’s stock valued at $509,000 after purchasing an additional 80 shares during the last quarter. Finally, Pacific Sage Partners LLC increased its stake in Shopify by 3.9% in the fourth quarter. Pacific Sage Partners LLC now owns 2,133 shares of the software maker’s stock valued at $343,000 after purchasing an additional 80 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Down 2.0%

SHOP stock opened at $108.24 on Friday. The company has a market capitalization of $140.46 billion, a P/E ratio of 107.17, a PEG ratio of 3.10 and a beta of 2.60. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The business has a 50 day simple moving average of $113.99 and a 200-day simple moving average of $131.61.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, beating the consensus estimate of $0.22 by $998.78. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. Research analysts predict that Shopify Inc. will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SHOP shares. Piper Sandler reiterated an “overweight” rating and issued a $150.00 price target (down from $165.00) on shares of Shopify in a research note on Tuesday, May 5th. Barclays set a $126.00 price target on shares of Shopify and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. DZ Bank upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Wells Fargo & Company decreased their price objective on Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Finally, Robert W. Baird set a $150.00 price objective on Shopify in a report on Wednesday, May 6th. Two 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.17.

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.