6,800 Shopify Inc. $SHOP Shares Purchased by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. increased its Shopify stake by 1.9% in the third quarter, purchasing 6,800 shares and bringing its holdings to 364,072 shares valued at approximately $54.1 million.
• Institutional investors own 69.27% of Shopify, while analysts maintain a broadly positive outlook with a “Moderate Buy” consensus rating and an average price target of $172.39.
• Shopify’s latest quarterly results exceeded expectations, with adjusted EPS of $0.42 versus a $0.40 consensus and revenue of $3.58 billion, up 33.7% year over year.

Mn Services Vermogensbeheer B.V. grew its position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 364,072 shares of the software maker's stock after purchasing an additional 6,800 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Shopify were worth $54,088,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Graney & King LLC bought a new position in shares of Shopify in the first quarter valued at approximately $27,000. Evolution Wealth Management Inc. grew its stake in Shopify by 203.9% in the 1st quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker's stock valued at $27,000 after purchasing an additional 155 shares during the period. Glen Eagle Advisors LLC increased its position in shares of Shopify by 97.5% during the 4th quarter. Glen Eagle Advisors LLC now owns 241 shares of the software maker's stock valued at $39,000 after purchasing an additional 119 shares during the last quarter. Roxbury Financial LLC raised its stake in shares of Shopify by 171.0% during the 3rd quarter. Roxbury Financial LLC now owns 271 shares of the software maker's stock worth $40,000 after purchasing an additional 171 shares during the period. Finally, Sankala Group LLC purchased a new position in shares of Shopify in the 4th quarter worth about $44,000. 69.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SHOP has been the topic of a number of research analyst reports. Barclays set a $145.00 target price on shares of Shopify and gave the company an "equal weight" rating in a research note on Thursday, August 6th. Mizuho set a $180.00 target price on Shopify in a research note on Thursday, September 24th. Piper Sandler reiterated an "overweight" rating on shares of Shopify in a research note on Monday. UBS Group reaffirmed a "neutral" rating and set a $145.00 price objective (up from $130.00) on shares of Shopify in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Shopify from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $172.39.

Shopify Trading Down 0.9%

Shares of SHOP opened at $164.56 on Friday. The business's 50-day moving average price is $144.30 and its 200-day moving average price is $125.88. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The stock has a market cap of $211.73 billion, a PE ratio of 111.19, a P/E/G ratio of 3.43 and a beta of 2.62. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.01.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The firm had revenue of $3.58 billion for the quarter. Shopify had a net margin of 14.53% and a return on equity of 12.58%. The company's quarterly revenue was up 33.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. On average, equities analysts forecast that Shopify Inc. will post 1.46 EPS for the current fiscal year.

About Shopify

Shopify Inc is a commerce technology company that provides tools for businesses to start, operate and grow online and in physical retail environments. Its platform enables merchants to create and manage online stores, sell through multiple channels, process orders and payments, manage inventory and engage with customers.

Shopify's products and services include its core commerce platform, Shopify Plus for larger businesses, Shopify Payments, Shop Pay, point-of-sale solutions and tools for marketing, shipping, analytics and customer management.

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