BI Asset Management Fondsmaeglerselskab A S Buys 6,349 Shares of Shopify Inc. $SHOP

BI Asset Management Fondsmaeglerselskab A S raised its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 2.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 231,739 shares of the software maker’s stock after purchasing an additional 6,349 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Shopify were worth $26,731,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SHOP. Family Legacy Financial Solutions LLC bought a new stake in Shopify during the 2nd quarter valued at $25,000. Financial Gravity Companies Inc. purchased a new position in shares of Shopify in the second quarter valued at about $27,000. Rothschild Investment LLC raised its stake in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Tradewinds Capital Management LLC boosted its holdings in shares of Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares during the period. Finally, Coastline Trust Co bought a new stake in shares of Shopify in the second quarter worth about $29,000. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.3%

Shares of SHOP stock opened at $164.19 on Friday. The company’s fifty day moving average price is $159.60 and its 200-day moving average price is $139.56. The stock has a market cap of $213.75 billion, a PE ratio of 121.62, a price-to-earnings-growth ratio of 6.12 and a beta of 2.82. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. On average, sell-side analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

SHOP has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their price target on Shopify from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Benchmark restated a “buy” rating on shares of Shopify in a report on Wednesday, December 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $192.00 price target (up previously from $165.00) on shares of Shopify in a report on Wednesday, November 5th. Robert W. Baird boosted their price objective on shares of Shopify from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Finally, Stifel Nicolaus set a $175.00 target price on shares of Shopify in a research report on Tuesday, November 4th. Twenty-two analysts have rated the stock with a Buy rating and twenty-three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $166.53.

Shopify Company 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.