Shopify Inc. $SHOP Stock Holdings Lifted by Versant Capital Management Inc

Versant Capital Management Inc lifted its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 191.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,264 shares of the software maker’s stock after buying an additional 3,458 shares during the period. Versant Capital Management Inc’s holdings in Shopify were worth $782,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SHOP. Ashton Thomas Securities LLC bought a new position in shares of Shopify during the third quarter valued at approximately $1,910,000. Q3 Asset Management bought a new position in Shopify during the 3rd quarter worth $504,000. Global Wealth Management Investment Advisory Inc. increased its position in Shopify by 16.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 21,031 shares of the software maker’s stock worth $3,125,000 after buying an additional 2,898 shares during the period. Eastern Bank increased its position in Shopify by 37.8% in the third quarter. Eastern Bank now owns 7,295 shares of the software maker’s stock worth $1,084,000 after buying an additional 2,002 shares during the period. Finally, WealthPLAN Partners LLC lifted its stake in Shopify by 72.2% in the third quarter. WealthPLAN Partners LLC now owns 2,996 shares of the software maker’s stock valued at $445,000 after buying an additional 1,256 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP opened at $157.51 on Thursday. The business has a 50 day moving average price of $159.94 and a two-hundred day moving average price of $148.96. The company has a market capitalization of $205.05 billion, a price-to-earnings ratio of 116.67, a price-to-earnings-growth ratio of 4.97 and a beta of 2.83. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. Equities analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

SHOP has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $192.00 price objective (up previously from $165.00) on shares of Shopify in a report on Wednesday, November 5th. Truist Financial set a $155.00 price target on shares of Shopify and gave the company a “hold” rating in a research note on Tuesday, November 4th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $198.00 price target (up previously from $125.00) on shares of Shopify in a report on Wednesday, December 17th. DA Davidson increased their price objective on Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Wedbush restated an “outperform” rating and issued a $185.00 target price (up from $160.00) on shares of Shopify in a research report on Tuesday, November 4th. Twenty-four equities research analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the stock. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $171.61.

Shopify Profile

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.