Assenagon Asset Management S.A. Boosts Stake in Shopify Inc. $SHOP

Assenagon Asset Management S.A. raised its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1,593.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 677,511 shares of the software maker’s stock after buying an additional 637,494 shares during the quarter. Assenagon Asset Management S.A. owned about 0.05% of Shopify worth $109,069,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after buying an additional 584 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after buying an additional 7,544 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Shopify by 6.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock valued at $945,000 after acquiring an additional 506 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Shopify in the 2nd quarter valued at about $545,000. Finally, AlphaCore Capital LLC purchased a new position in Shopify in the second quarter worth about $254,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 3.7%

Shares of NASDAQ:SHOP opened at $121.10 on Tuesday. The company has a market capitalization of $157.93 billion, a price-to-earnings ratio of 130.22, a price-to-earnings-growth ratio of 4.14 and a beta of 2.83. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The firm has a 50 day moving average of $128.64 and a 200 day moving average of $147.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald restated a “neutral” rating and set a $126.00 price objective (down from $181.00) on shares of Shopify in a research report on Thursday, February 12th. Wolfe Research raised Shopify from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 6th. DZ Bank upgraded Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. TD Cowen raised shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research note on Wednesday, February 11th. Finally, TD Securities upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research report on Thursday, February 12th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.38.

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.