AEGON ASSET MANAGEMENT UK Plc Has $42.66 Million Position in Shopify Inc. $SHOP

AEGON ASSET MANAGEMENT UK Plc lessened its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 11.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 287,685 shares of the software maker’s stock after selling 36,177 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Shopify were worth $42,659,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Financial Gravity Companies Inc. acquired a new stake in Shopify during the 2nd quarter worth about $27,000. Rothschild Investment LLC boosted its holdings in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after purchasing an additional 75 shares during the period. Heartwood Wealth Advisors LLC purchased a new position in Shopify during the third quarter valued at approximately $27,000. Tradewinds Capital Management LLC increased its stake in Shopify by 71.4% in the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after buying an additional 100 shares during the period. Finally, Coastline Trust Co purchased a new stake in Shopify in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

SHOP has been the topic of several research analyst reports. Stifel Nicolaus set a $175.00 price target on shares of Shopify in a report on Tuesday, November 4th. Citigroup restated a “market outperform” rating on shares of Shopify in a research note on Thursday, December 4th. BMO Capital Markets upped their target price on Shopify from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $180.00 price target on shares of Shopify in a report on Wednesday, November 5th. Finally, CIBC reissued an “outperform” rating on shares of Shopify in a research note on Wednesday, November 5th. Twenty-four investment analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.61.

Shopify Stock Up 0.2%

Shares of Shopify stock opened at $137.89 on Monday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19. The stock has a 50 day moving average price of $159.00 and a two-hundred day moving average price of $150.76. The stock has a market capitalization of $179.51 billion, a P/E ratio of 102.14, a PEG ratio of 4.08 and a beta of 2.83.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly 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. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. Sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

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.