Shopify Inc. $SHOP Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 38.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,390 shares of the software maker’s stock after purchasing an additional 63,180 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Shopify were worth $21,520,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. MIG Capital LLC grew its holdings in Shopify by 150.4% during the 1st quarter. MIG Capital LLC now owns 7,838 shares of the software maker’s stock valued at $748,000 after purchasing an additional 4,708 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Shopify during the 1st quarter valued at $883,000. Colonial Trust Advisors grew its holdings in Shopify by 115.4% during the 1st quarter. Colonial Trust Advisors now owns 560 shares of the software maker’s stock valued at $53,000 after purchasing an additional 300 shares in the last quarter. RWA Wealth Partners LLC grew its holdings in Shopify by 6.6% during the 1st quarter. RWA Wealth Partners LLC now owns 3,568 shares of the software maker’s stock worth $341,000 after acquiring an additional 220 shares in the last quarter. Finally, Korea Investment CORP grew its holdings in Shopify by 1.3% during the 1st quarter. Korea Investment CORP now owns 1,015,583 shares of the software maker’s stock worth $96,624,000 after acquiring an additional 12,553 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. ATB Capital lowered shares of Shopify to a “sector perform” rating in a report on Thursday, August 7th. National Bankshares raised their price objective on shares of Shopify from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Oppenheimer raised their price objective on shares of Shopify from $145.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Arete reissued a “neutral” rating on shares of Shopify in a report on Wednesday, July 23rd. Finally, KeyCorp reissued an “overweight” rating and set a $175.00 price objective (up from $145.00) on shares of Shopify in a report on Thursday, August 7th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $148.51.

Shopify Price Performance

Shares of SHOP opened at $143.11 on Tuesday. The firm’s 50 day moving average is $122.22 and its 200-day moving average is $109.20. The stock has a market capitalization of $185.67 billion, a P/E ratio of 92.33, a P/E/G ratio of 4.82 and a beta of 2.63. Shopify Inc. has a 12-month low of $65.86 and a 12-month high of $156.85.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Shopify had a net margin of 22.74% and a return on equity of 12.00%. The business’s revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. As a group, equities research analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.