Vanguard Personalized Indexing Management LLC Acquires 4,998 Shares of Shopify Inc. $SHOP

Vanguard Personalized Indexing Management LLC raised its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 8.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 64,297 shares of the software maker’s stock after purchasing an additional 4,998 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Shopify were worth $10,350,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SHOP. Norges Bank bought a new position in Shopify in the fourth quarter valued at approximately $2,611,797,000. Sands Capital Management LLC boosted its position in shares of Shopify by 37.0% during the fourth quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock worth $1,530,187,000 after purchasing an additional 2,568,765 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Shopify by 7,207.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock worth $184,883,000 after purchasing an additional 1,132,545 shares in the last quarter. Select Equity Group L.P. boosted its position in shares of Shopify by 92.5% during the second quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock worth $259,124,000 after purchasing an additional 1,079,494 shares in the last quarter. Finally, Steadfast Capital Management LP bought a new position in shares of Shopify during the third quarter worth $140,930,000. 69.27% of the stock is owned by institutional investors.

Shopify Stock Up 3.9%

Shares of NASDAQ:SHOP opened at $112.49 on Tuesday. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The company’s fifty day simple moving average is $113.88 and its 200 day simple moving average is $131.13. The firm has a market cap of $145.97 billion, a price-to-earnings ratio of 111.38, a PEG ratio of 3.03 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Research analysts expect that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SHOP shares. National Bank Financial reduced their price target on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Robert W. Baird set a $150.00 price target on shares of Shopify in a research report on Wednesday, May 6th. Truist Financial set a $150.00 price target on shares of Shopify and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $170.00 price target on shares of Shopify in a research report on Wednesday, May 6th. Finally, UBS Group reissued a “neutral” rating on shares of Shopify in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

About Shopify

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.