Asset Management One Co. Ltd. Raises Stock Position in Shopify Inc. $SHOP

Asset Management One Co. Ltd. raised its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 105,719 shares of the software maker’s stock after purchasing an additional 3,818 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Shopify were worth $15,711,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Accurate Wealth Management LLC lifted its holdings in Shopify by 2.0% during the third quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock valued at $526,000 after purchasing an additional 67 shares in the last quarter. Rothschild Investment LLC raised its position in Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Shopify by 0.9% in the 3rd quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock worth $1,228,000 after purchasing an additional 75 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Shopify by 13.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after purchasing an additional 77 shares during the period. Finally, N.E.W. Advisory Services LLC raised its holdings in shares of Shopify by 16.2% in the second quarter. N.E.W. Advisory Services LLC now owns 595 shares of the software maker’s stock worth $69,000 after buying an additional 83 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Trading Up 1.3%

NASDAQ:SHOP opened at $168.45 on Wednesday. The company has a market cap of $219.29 billion, a P/E ratio of 124.78, a P/E/G ratio of 4.94 and a beta of 2.83. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19. The company’s 50-day moving average price is $160.56 and its 200-day moving average price is $147.00.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data 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. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. On average, analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $180.00 price target on shares of Shopify in a report on Wednesday, November 5th. Royal Bank Of Canada boosted their price objective on shares of Shopify from $170.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Cantor Fitzgerald reiterated a “neutral” rating and set a $181.00 price objective (up previously from $156.00) on shares of Shopify in a report on Wednesday, November 5th. National Bankshares lifted their price objective on shares of Shopify from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Finally, BMO Capital Markets increased their price objective on shares of Shopify from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Twenty-three research analysts have rated the stock with a Buy rating and twenty-three have issued a Hold rating to the company. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average price target of $169.14.

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.