27,655 Shares in Shopify Inc. $SHOP Bought by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors bought a new stake of 27,655 shares in Shopify in Q3, worth about $4.11 million, while institutional investors own roughly 69.27% of the stock.
• Analysts are broadly positive — Shopify has a consensus rating of Moderate Buy with a $171.61 target, and several firms recently raised price targets (e.g., Morgan Stanley $192, Canaccord $185, JPMorgan $180).
• Shopify beat Q3 estimates with EPS $0.27 vs. $0.24 and revenue $2.84B vs. $2.75B; the stock trades around $143.64 with a P/E of 106.4 and a 52‑week high of $182.19.

Knights of Columbus Asset Advisors LLC bought a new stake in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 27,655 shares of the software maker's stock, valued at approximately $4,110,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC boosted its position in Shopify by 1.7% during the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker's stock worth $512,000 after buying an additional 59 shares during the period. Accurate Wealth Management LLC raised its stake in shares of 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 acquiring an additional 67 shares during the last quarter. Rothschild Investment LLC lifted 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. Sivia Capital Partners LLC grew its stake in shares of Shopify by 0.9% in the third 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 last quarter. Finally, Strategic Advisors LLC grew its stake in shares of Shopify by 0.3% in the third quarter. Strategic Advisors LLC now owns 28,785 shares of the software maker's stock worth $4,278,000 after purchasing an additional 76 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. CIBC reaffirmed an "outperform" rating on shares of Shopify in a research report on Wednesday, November 5th. Canaccord Genuity Group increased their price target on Shopify from $165.00 to $185.00 and gave the company a "buy" rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. lifted their price objective on Shopify from $179.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 5th. Benchmark reiterated a "buy" rating on shares of Shopify in a report on Wednesday, December 3rd. Finally, Morgan Stanley restated an "overweight" rating and set a $192.00 price target (up previously from $165.00) on shares of Shopify in a report on Wednesday, November 5th. Twenty-four analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the stock. Based on data from MarketBeat.com, Shopify presently has an average rating of "Moderate Buy" and a consensus target price of $171.61.

Shopify Stock Performance

Shopify stock opened at $143.64 on Friday. The stock has a market capitalization of $187.00 billion, a price-to-earnings ratio of 106.40, a PEG ratio of 4.11 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 stock's 50 day moving average price is $158.71 and its two-hundred day moving average price is $150.96.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last released its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (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 the consensus estimate of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. On average, equities research analysts forecast that Shopify Inc. will post 1.12 EPS for the current 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.

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.