Shopify Inc. $SHOP Shares Purchased by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI boosted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 59.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,100 shares of the software maker’s stock after acquiring an additional 8,201 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Shopify were worth $3,284,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Financial Gravity Companies Inc. acquired a new position in Shopify during the 2nd quarter valued at approximately $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 valued at $27,000 after acquiring an additional 75 shares during the period. Heartwood Wealth Advisors LLC acquired a new position in shares of Shopify during the third quarter valued at $27,000. Tradewinds Capital Management LLC grew its position in shares of Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Finally, Coastline Trust Co acquired a new stake in shares of Shopify in the 2nd quarter worth about $29,000. 69.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of analyst reports. KeyCorp boosted their target price on shares of Shopify from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. DA Davidson lifted their price target on Shopify from $185.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Morgan Stanley reissued an “overweight” rating and issued a $192.00 price objective (up from $165.00) on shares of Shopify in a report on Wednesday, November 5th. National Bankshares lifted their target price on Shopify from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $181.00 price target (up previously from $156.00) on shares of Shopify in a research report on Wednesday, November 5th. Twenty-four research analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $171.61.

Shopify Stock Up 0.2%

Shares of Shopify stock opened at $137.89 on Monday. The business has a fifty day simple moving average of $159.00 and a 200-day simple moving average of $150.76. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $182.19. The firm has a market cap of $179.51 billion, a price-to-earnings ratio of 102.14, a price-to-earnings-growth ratio of 4.08 and a beta of 2.83.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, topping 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 firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.