Public Employees Retirement System of Ohio Invests $12.04 Million in Shopify Inc. $SHOP

Key Points

• Public Employees Retirement System of Ohio acquired 105,290 Shopify shares worth approximately $12.04 million in the second quarter. Institutional investors collectively own 69.27% of the company.
• Shopify reported quarterly revenue of $3.58 billion, up 33.7% year over year, and earnings per share of $0.42, exceeding analysts’ $0.40 estimate.
• Analysts maintain a “Moderate Buy” consensus rating, with a consensus price target of $170.84; Shopify recently traded at $152.90.

Public Employees Retirement System of Ohio bought a new position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 105,290 shares of the software maker's stock, valued at approximately $12,041,000.

Other large investors have also added to or reduced their stakes in the company. Kingdom Financial Group LLC. purchased a new stake in Shopify in the 4th quarter valued at $26,000. Curio Wealth LLC bought a new stake in shares of Shopify in the 4th quarter worth $27,000. Evolution Wealth Management Inc. raised its holdings in shares of Shopify by 203.9% in the first 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 last quarter. Graney & King LLC purchased a new stake in shares of Shopify in the first quarter valued at about $27,000. Finally, Lloyd Advisory Services LLC. bought a new position in shares of Shopify during the fourth quarter valued at about $31,000. Institutional investors own 69.27% of the company's stock.

Shopify Price Performance

SHOP stock opened at $152.90 on Monday. The stock has a fifty day moving average of $130.97 and a 200-day moving average of $121.79. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The company has a market capitalization of $196.73 billion, a price-to-earnings ratio of 103.31, a PEG ratio of 3.12 and a beta of 2.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.35 and a current ratio of 5.35.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last issued its earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The firm had revenue of $3.58 billion during the quarter. Shopify had a net margin of 14.53% and a return on equity of 12.58%. Shopify's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. As a group, equities research analysts predict that Shopify Inc. will post 1.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Seaport Research Partners reiterated a "buy" rating and issued a $175.00 price objective on shares of Shopify in a research note on Monday, August 17th. UBS Group reaffirmed a "neutral" rating and issued a $145.00 target price (up from $130.00) on shares of Shopify in a report on Thursday, August 6th. BTIG Research assumed coverage on Shopify in a research report on Friday, July 10th. They set a "buy" rating for the company. Citizens Jmp lifted their price target on Shopify from $150.00 to $185.00 and gave the stock a "market outperform" rating in a report on Thursday, August 6th. Finally, Zacks Research cut Shopify from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Shopify currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.84.

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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