Shopify Inc. $SHOP Shares Purchased by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas raised its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 13.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,698 shares of the software maker’s stock after purchasing an additional 14,298 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in Shopify were worth $19,751,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SHOP. Kingdom Financial Group LLC. acquired a new position in shares of Shopify in the 4th quarter worth approximately $26,000. Curio Wealth LLC acquired a new position in shares of Shopify in the 4th quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Shopify in the 4th quarter worth approximately $29,000. Lodestone Wealth Management LLC acquired a new position in shares of Shopify in the 4th quarter worth approximately $31,000. Finally, Sound Income Strategies LLC grew its position in shares of Shopify by 82.4% in the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $180.00 target price on shares of Shopify in a research report on Tuesday, May 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $170.00 target price on shares of Shopify in a research report on Wednesday, May 6th. Phillip Securities raised Shopify from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. BMO Capital Markets decreased their target price on Shopify from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Finally, Barclays set a $126.00 target price on Shopify and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Trading Up 3.9%

SHOP opened at $112.49 on Tuesday. The stock 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 Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The stock has a fifty day moving average price of $113.88 and a 200 day moving average price of $131.13.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating 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 return on equity of 12.07% and a net margin of 10.77%. As a group, sell-side analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Shopify Company 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.