AMF Tjanstepension AB Has $72.27 Million Stock Position in Shopify Inc. $SHOP

AMF Tjanstepension AB increased its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 34.7% during the second quarter, Holdings Channel reports. The firm owned 626,550 shares of the software maker’s stock after acquiring an additional 161,474 shares during the period. AMF Tjanstepension AB’s holdings in Shopify were worth $72,273,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after buying an additional 584 shares in the last quarter. Two Sigma Advisers LP bought a new position in Shopify in the fourth quarter valued at approximately $314,000. GAMMA Investing LLC raised its position in Shopify by 17,086.4% during the first quarter. GAMMA Investing LLC now owns 91,947 shares of the software maker’s stock valued at $8,779,000 after purchasing an additional 91,412 shares in the last quarter. Merit Financial Group LLC lifted its stake in Shopify by 6.8% during the first quarter. Merit Financial Group LLC now owns 20,034 shares of the software maker’s stock worth $1,913,000 after purchasing an additional 1,273 shares during the last quarter. Finally, Fulton Bank N.A. boosted its holdings in shares of Shopify by 9.5% in the 1st quarter. Fulton Bank N.A. now owns 2,946 shares of the software maker’s stock valued at $281,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 6.5%

Shares of SHOP stock opened at $161.14 on Friday. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $162.60. The stock has a market cap of $209.43 billion, a price-to-earnings ratio of 90.02, a PEG ratio of 7.17 and a beta of 2.72. The stock has a 50-day moving average of $142.78 and a 200-day moving average of $117.13.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm’s revenue was up 31.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. Sell-side analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Shopify in a report on Saturday, September 27th. Arete Research upgraded Shopify to a “hold” rating in a research report on Wednesday, July 23rd. Stifel Nicolaus boosted their target price on Shopify from $110.00 to $150.00 and gave the stock a “hold” rating in a research note on Thursday, August 7th. Phillip Securities downgraded shares of Shopify from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 12th. Finally, Bank of America lifted their price target on shares of Shopify from $110.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Twenty-two research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $150.59.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.