AEGON ASSET MANAGEMENT UK Plc Raises Position in Shopify Inc. $SHOP

Key Points

• AEGON ASSET MANAGEMENT UK Plc raised its Shopify stake by 49.7% in Q4, adding 142,924 shares to hold 430,609 shares worth about $69.3 million, representing 0.8% of the fund and its 27th largest holding.
• Analyst sentiment is broadly positive: MarketBeat shows an average rating of "Moderate Buy" with an average price target of $162.70 (3 Strong Buy, 31 Buy, 10 Hold).

AEGON ASSET MANAGEMENT UK Plc raised its holdings in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 49.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 430,609 shares of the software maker's stock after acquiring an additional 142,924 shares during the quarter. Shopify makes up 0.8% of AEGON ASSET MANAGEMENT UK Plc's portfolio, making the stock its 27th largest holding. AEGON ASSET MANAGEMENT UK Plc's holdings in Shopify were worth $69,300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SHOP. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Shopify during the 4th quarter valued at $29,000. Lodestone Wealth Management LLC purchased a new position in shares of Shopify during the 4th quarter valued at $31,000. Sound Income Strategies LLC lifted its stake in shares of Shopify by 82.4% during the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker's stock valued at $31,000 after buying an additional 89 shares in the last quarter. JPL Wealth Management LLC purchased a new position in shares of Shopify during the 3rd quarter valued at $32,000. Finally, Caitlin John LLC purchased a new position in shares of Shopify during the 3rd quarter valued at $36,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of research reports. Royal Bank Of Canada set a $170.00 price target on shares of Shopify and gave the company an "outperform" rating in a report on Thursday, February 12th. Barclays set a $130.00 price target on shares of Shopify and gave the company an "equal weight" rating in a report on Thursday, February 12th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $126.00 price target (down from $181.00) on shares of Shopify in a report on Thursday, February 12th. Wolfe Research upgraded shares of Shopify from a "hold" rating to an "outperform" rating in a report on Tuesday, January 6th. Finally, TD Securities upgraded shares of Shopify from a "hold" rating to a "buy" rating and set a $159.00 price target on the stock in a report on Thursday, February 12th. Three equities research 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, the stock has an average rating of "Moderate Buy" and an average price target of $162.70.

Shopify Trading Up 1.3%

Shares of NASDAQ:SHOP opened at $125.83 on Friday. The company has a market capitalization of $164.10 billion, a price-to-earnings ratio of 135.30, a PEG ratio of 4.42 and a beta of 2.82. Shopify Inc. has a 12 month low of $88.14 and a 12 month high of $182.19. The firm's 50-day moving average is $122.15 and its 200 day moving average is $143.09.

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.

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