Shopify Inc. $SHOP Shares Bought by Cerity Partners LLC

Cerity Partners LLC raised its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 116,464 shares of the software maker’s stock after purchasing an additional 6,009 shares during the period. Cerity Partners LLC’s holdings in Shopify were worth $17,308,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Shopify by 171.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock worth $48,827,000 after acquiring an additional 267,271 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Shopify by 4.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,231,257 shares of the software maker’s stock worth $603,425,000 after acquiring an additional 218,829 shares during the last quarter. TriaGen Wealth Management LLC purchased a new stake in Shopify during the 3rd quarter valued at about $2,562,000. Oppenheimer Asset Management Inc. raised its holdings in Shopify by 9.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 400,389 shares of the software maker’s stock valued at $46,185,000 after acquiring an additional 35,113 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Shopify by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,622,495 shares of the software maker’s stock valued at $301,869,000 after acquiring an additional 67,260 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Down 2.3%

NASDAQ SHOP opened at $164.48 on Friday. The stock has a fifty day simple moving average of $160.02 and a 200-day simple moving average of $147.67. The stock has a market cap of $214.13 billion, a PE ratio of 121.84, a P/E/G ratio of 5.00 and a beta of 2.83. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19.

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 analysts’ consensus estimates 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 net margin of 16.65% and a return on equity of 11.72%. Research analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

SHOP has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Shopify from $179.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. KeyCorp upped their target price on Shopify from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Canaccord Genuity Group raised their target price on Shopify from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Truist Financial set a $155.00 price target on shares of Shopify and gave the company a “hold” rating in a research report on Tuesday, November 4th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $198.00 price objective (up previously from $125.00) on shares of Shopify in a report on Wednesday, December 17th. Twenty-four analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.61.

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.