University of Texas Texas AM Investment Management Co. Takes Position in Shopify Inc. $SHOP

University of Texas Texas AM Investment Management Co. bought a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,813 shares of the software maker’s stock, valued at approximately $936,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kingdom Financial Group LLC. purchased a new stake in Shopify in the fourth quarter worth approximately $26,000. Curio Wealth LLC purchased a new stake in Shopify during the fourth quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Shopify in the fourth quarter worth about $29,000. Lloyd Advisory Services LLC. bought a new stake in shares of Shopify in the 4th quarter valued at about $31,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Shopify in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SHOP. Weiss Ratings downgraded Shopify from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. DZ Bank upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. DA Davidson reduced their price target on Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 price objective on shares of Shopify in a report on Wednesday, May 6th. Finally, Citizens Jmp dropped their target price on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Shopify Price Performance

NASDAQ:SHOP opened at $112.49 on Tuesday. The firm has a market capitalization of $145.97 billion, a price-to-earnings ratio of 111.38, a price-to-earnings-growth ratio of 3.03 and a beta of 2.60. The business has a fifty day moving average price of $113.88 and a 200-day moving average price of $131.13. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19.

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

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.