Life Cycle Investment Partners Ltd Takes Position in Shopify Inc. $SHOP

Life Cycle Investment Partners Ltd bought a new stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 323,136 shares of the software maker’s stock, valued at approximately $52,015,000.

A number of other hedge funds have also recently modified their holdings of SHOP. Vanguard Group Inc. boosted its holdings in shares of Shopify by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after purchasing an additional 743,803 shares during the period. Jennison Associates LLC increased its holdings in Shopify by 64.3% during the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock worth $2,812,211,000 after purchasing an additional 7,403,821 shares during the period. TD Asset Management Inc increased its holdings in Shopify by 1.4% during 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 purchasing an additional 118,836 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Shopify by 3.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,588,934 shares of the software maker’s stock worth $978,679,000 after purchasing an additional 213,315 shares during the period. Finally, Legal & General Group Plc increased its holdings in Shopify by 4.4% during the 3rd quarter. Legal & General Group Plc now owns 6,188,885 shares of the software maker’s stock worth $919,665,000 after purchasing an additional 260,968 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 1.8%

Shares of NASDAQ SHOP opened at $103.00 on Friday. The stock has a market capitalization of $133.66 billion, a PE ratio of 101.98, a price-to-earnings-growth ratio of 2.89 and a beta of 2.64. The stock’s fifty day simple moving average is $116.29 and its two-hundred day simple moving average is $135.86. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19.

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, topping analysts’ consensus estimates of $0.22 by $998.78. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. On average, equities analysts predict that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SHOP shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $175.00 price objective on shares of Shopify in a report on Thursday, February 12th. Weiss Ratings downgraded Shopify from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Wedbush reduced their price objective on Shopify from $185.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. DZ Bank upgraded Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $150.00 target price (down from $165.00) on shares of Shopify in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.42.

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.