Mn Services Vermogensbeheer B.V. Has $44.48 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Mn Services Vermogensbeheer B.V. lessened its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 568,540 shares of the software maker's stock after selling 18,300 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Shopify were worth $44,479,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SHOP. Vident Investment Advisory LLC increased its stake in Shopify by 5.3% during the 1st quarter. Vident Investment Advisory LLC now owns 661 shares of the software maker's stock worth $447,000 after buying an additional 33 shares during the period. Interchange Capital Partners LLC increased its position in shares of Shopify by 7.1% during the first quarter. Interchange Capital Partners LLC now owns 511 shares of the software maker's stock worth $345,000 after acquiring an additional 34 shares during the last quarter. Ancora Advisors LLC lifted its stake in shares of Shopify by 6.2% in the first quarter. Ancora Advisors LLC now owns 1,177 shares of the software maker's stock worth $1,302,000 after acquiring an additional 69 shares in the last quarter. SVB Wealth LLC boosted its holdings in Shopify by 14.0% in the first quarter. SVB Wealth LLC now owns 659 shares of the software maker's stock valued at $445,000 after purchasing an additional 81 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its stake in Shopify by 292.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 110 shares of the software maker's stock valued at $74,000 after purchasing an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SHOP. Citigroup cut their target price on Shopify from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 14th. Piper Sandler reiterated an "underweight" rating and set a $63.00 price objective on shares of Shopify in a research note on Thursday. StockNews.com raised shares of Shopify from a "sell" rating to a "hold" rating in a research report on Saturday, January 27th. Robert W. Baird upped their target price on shares of Shopify from $85.00 to $87.00 and gave the company an "outperform" rating in a research note on Wednesday, April 3rd. Finally, BNP Paribas lowered Shopify from a "neutral" rating to an "underperform" rating in a report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $77.38.

Shopify Price Performance

Shares of SHOP traded down $1.57 during midday trading on Friday, reaching $70.00. The stock had a trading volume of 11,042,554 shares, compared to its average volume of 6,341,646. The firm's 50 day moving average price is $77.97 and its 200-day moving average price is $71.42. Shopify Inc. has a 52 week low of $45.11 and a 52 week high of $91.57. The company has a market capitalization of $90.06 billion, a P/E ratio of 777.86 and a beta of 2.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.07 billion. On average, analysts forecast that Shopify Inc. will post 0.57 earnings per share 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.