Banque Transatlantique SA Increases Stake in Shopify Inc. $SHOP

Key Points

• Banque Transatlantique SA increased its holdings in Shopify Inc. by 121.4% during the first quarter, acquiring a total of 9,300 shares valued at $819,000.
• Several hedge funds have also boosted their positions in Shopify, with Alliancebernstein L.P. increasing its shares by 24.6%, now holding shares worth approximately $530 million.
• Shopify reported earnings of $0.35 EPS for the last quarter, exceeding analysts' expectations, and had a strong revenue growth of 31.1% year-over-year.

Banque Transatlantique SA raised its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 121.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,300 shares of the software maker's stock after purchasing an additional 5,100 shares during the quarter. Banque Transatlantique SA's holdings in Shopify were worth $819,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in Shopify in the first quarter valued at approximately $667,392,000. Jennison Associates LLC grew its holdings in shares of Shopify by 324.3% in the first quarter. Jennison Associates LLC now owns 5,280,781 shares of the software maker's stock worth $504,209,000 after purchasing an additional 4,036,326 shares during the last quarter. Durable Capital Partners LP increased its position in Shopify by 86.9% during the 4th quarter. Durable Capital Partners LP now owns 3,950,348 shares of the software maker's stock valued at $420,041,000 after purchasing an additional 1,836,294 shares during the period. Canada Pension Plan Investment Board increased its position in Shopify by 34.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker's stock valued at $565,504,000 after purchasing an additional 1,522,573 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Shopify by 19.7% during the first quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker's stock valued at $822,745,000 after buying an additional 1,426,406 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on SHOP shares. Cantor Fitzgerald set a $156.00 price objective on Shopify and gave the company a "neutral" rating in a research report on Wednesday, August 27th. ATB Capital lowered shares of Shopify to a "sector perform" rating in a research report on Thursday, August 7th. DA Davidson upped their price target on Shopify from $125.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Bank of America increased their target price on shares of Shopify from $110.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, BMO Capital Markets increased their price objective on shares of Shopify from $120.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Twenty-four investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $150.27.

Shopify Stock Up 1.2%

Shares of SHOP traded up $1.67 during trading hours on Friday, reaching $146.82. 5,726,597 shares of the company traded hands, compared to its average volume of 10,059,485. The business has a fifty day moving average price of $130.92 and a 200-day moving average price of $111.05. The stock has a market capitalization of $190.82 billion, a P/E ratio of 94.72, a P/E/G ratio of 4.82 and a beta of 2.69. Shopify Inc. has a 12-month low of $65.86 and a 12-month high of $156.85.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. Shopify had a return on equity of 12.00% and a net margin of 22.74%.Shopify's revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. As a group, research analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.