Generali Asset Management SPA SGR Increases Position in Shopify Inc. $SHOP

Generali Asset Management SPA SGR increased its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,145 shares of the software maker’s stock after acquiring an additional 6,641 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Shopify were worth $14,883,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Family Legacy Financial Solutions LLC acquired a new position in shares of Shopify in the 2nd quarter valued at approximately $25,000. Financial Gravity Companies Inc. acquired a new stake in shares of Shopify during the second quarter worth approximately $27,000. Rothschild Investment LLC increased its stake in shares of Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Heartwood Wealth Advisors LLC acquired a new stake in Shopify in the third quarter valued at $27,000. Finally, Tradewinds Capital Management LLC raised its holdings in Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Down 1.7%

Shares of NASDAQ SHOP opened at $160.97 on Friday. The firm’s 50-day moving average price is $161.26 and its two-hundred day moving average price is $145.25. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19. The stock has a market capitalization of $209.56 billion, a P/E ratio of 119.24, a P/E/G ratio of 5.97 and a beta of 2.83.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. DA Davidson raised their price objective on shares of Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Citigroup reaffirmed a “market outperform” rating on shares of Shopify in a research report on Thursday, December 4th. KeyCorp lifted their price target on Shopify from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. BNP Paribas Exane began coverage on Shopify in a research note on Monday, November 24th. They set a “neutral” rating on the stock. Finally, Bank of America increased their target price on Shopify from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Twenty-two analysts have rated the stock with a Buy rating and twenty-three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $168.69.

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.