Shopify Inc. $SHOP Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

Key Points

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BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 38.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 225,390 shares of the software maker's stock after purchasing an additional 63,180 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Shopify were worth $21,520,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new stake in Shopify during the 4th quarter valued at about $30,000. Smithfield Trust Co grew its stake in Shopify by 149.2% during the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker's stock valued at $30,000 after purchasing an additional 188 shares during the last quarter. Dagco Inc. purchased a new stake in Shopify during the 1st quarter valued at about $30,000. Cary Street Partners Investment Advisory LLC grew its stake in Shopify by 86.8% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 355 shares of the software maker's stock valued at $34,000 after purchasing an additional 165 shares during the last quarter. Finally, Accent Capital Management LLC purchased a new stake in Shopify during the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Needham & Company LLC assumed coverage on Shopify in a research note on Monday, July 14th. They set a "buy" rating and a $135.00 price target on the stock. Bank of America boosted their price objective on Shopify from $110.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Zacks Research raised Shopify to a "hold" rating in a report on Tuesday, August 12th. Oppenheimer boosted their price objective on Shopify from $145.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Capital One Financial raised Shopify from an "equal weight" rating to an "overweight" rating in a report on Thursday, May 8th. Twenty-four investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $148.51.

Shopify Price Performance

NYSE SHOP traded up $5.43 during trading hours on Friday, reaching $142.11. The company's stock had a trading volume of 7,645,265 shares, compared to its average volume of 10,334,922. The firm has a market capitalization of $184.69 billion, a price-to-earnings ratio of 91.68, a P/E/G ratio of 4.82 and a beta of 2.63. Shopify Inc. has a 1-year low of $65.86 and a 1-year high of $156.85. The company's 50-day moving average is $123.82 and its two-hundred day moving average is $109.76.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The company had revenue of $2.68 billion during the quarter, compared to analysts' expectations of $2.55 billion. Shopify had a return on equity of 12.00% and a net margin of 22.74%.Shopify's quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. Equities analysts forecast 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.