Shopify Inc. $SHOP Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 57.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,988 shares of the software maker’s stock after buying an additional 7,632 shares during the period. Thrivent Financial for Lutherans’ holdings in Shopify were worth $2,392,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Shopify during the second quarter worth about $967,000. Newbridge Financial Services Group Inc. grew its stake in Shopify by 67.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 16,494 shares of the software maker’s stock worth $1,903,000 after buying an additional 6,616 shares during the last quarter. Marex Group plc acquired a new position in Shopify during the second quarter worth approximately $328,000. Cim LLC increased its position in Shopify by 13.1% during the second quarter. Cim LLC now owns 14,147 shares of the software maker’s stock worth $1,632,000 after buying an additional 1,635 shares during the period. Finally, State of Wyoming lifted its stake in Shopify by 12.5% in the second quarter. State of Wyoming now owns 13,545 shares of the software maker’s stock valued at $1,560,000 after buying an additional 1,504 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Down 0.1%

Shares of Shopify stock opened at $169.53 on Wednesday. The firm has a market cap of $220.70 billion, a price-to-earnings ratio of 125.58, a price-to-earnings-growth ratio of 6.29 and a beta of 2.82. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19. The company’s 50-day simple moving average is $160.53 and its 200-day simple moving average is $142.95.

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

Analysts Set New Price Targets

SHOP has been the topic of a number of research reports. Morgan Stanley restated an “overweight” rating and set a $192.00 target price (up from $165.00) on shares of Shopify in a research report on Wednesday, November 5th. Wedbush restated an “outperform” rating and issued a $185.00 price objective (up from $160.00) on shares of Shopify in a research note on Tuesday, November 4th. Raymond James Financial reiterated a “market perform” rating on shares of Shopify in a research note on Monday, December 1st. BMO Capital Markets boosted their price target on Shopify from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Finally, TD Securities raised Shopify to a “hold” rating in a research note on Thursday, December 4th. Twenty-two investment analysts have rated the stock with a Buy rating and twenty-three have assigned a Hold rating to the stock. According to MarketBeat, Shopify currently has a consensus rating of “Hold” and an average price target of $168.69.

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.