Privium Fund Management B.V. Has $48.97 Million Holdings in Shopify Inc. $SHOP

Key Points

• Privium Fund Management B.V. increased its holdings in Shopify Inc. by 3.6% during the 2nd quarter, now owning 430,000 shares valued at approximately $48.97 million, making Shopify its 3rd largest investment.
• Shopify's stock is currently up 4.4%, with a market cap of $214.07 billion and a reported earnings of $0.35 per share exceeding estimates.
• Recent analyst reports show mixed ratings for Shopify, with target prices ranging from $156 to $200, reflecting ongoing interest from institutional investors.

Privium Fund Management B.V. boosted its position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 430,000 shares of the software maker's stock after acquiring an additional 15,000 shares during the period. Shopify accounts for about 10.6% of Privium Fund Management B.V.'s holdings, making the stock its 3rd biggest position. Privium Fund Management B.V.'s holdings in Shopify were worth $48,971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Shopify by 1.9% in the first quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker's stock worth $4,563,106,000 after purchasing an additional 882,168 shares during the period. Mackenzie Financial Corp grew 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 worth $822,745,000 after buying an additional 1,426,406 shares in the last quarter. Nuveen LLC bought a new position in Shopify in the 1st quarter worth about $667,392,000. Canada Pension Plan Investment Board raised its holdings in shares of Shopify by 34.4% in 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 acquiring an additional 1,522,573 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Shopify by 21.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker's stock valued at $539,382,000 after acquiring an additional 979,598 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Up 4.4%

NASDAQ SHOP opened at $164.71 on Tuesday. The company has a 50-day simple moving average of $148.34 and a two-hundred day simple moving average of $122.02. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $169.69. The firm has a market cap of $214.07 billion, a price-to-earnings ratio of 92.02, a PEG ratio of 7.39 and a beta of 2.72.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The company's quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share. Equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SHOP. Atb Cap Markets cut shares of Shopify from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 6th. Bank of America raised their price objective on shares of Shopify from $110.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Royal Bank Of Canada upped their target price on shares of Shopify from $170.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday. TD Cowen restated a "hold" rating and set a $156.00 price target on shares of Shopify in a research report on Friday, October 3rd. Finally, KeyCorp reaffirmed an "overweight" rating and set a $175.00 price target (up previously from $145.00) on shares of Shopify in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and an average price target of $152.76.

About Shopify

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.

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