Cookson Peirce & Co. Inc. Makes New $23.42 Million Investment in Shopify Inc. (NYSE:SHOP)

Cookson Peirce & Co. Inc. acquired a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 245,248 shares of the software maker’s stock, valued at approximately $23,416,000.

Several other large investors have also recently bought and sold shares of SHOP. Brighton Jones LLC lifted its stake in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after purchasing an additional 584 shares during the period. Advisors Capital Management LLC acquired a new position in shares of Shopify in the 4th quarter valued at $213,000. SageView Advisory Group LLC acquired a new position in shares of Shopify in the 4th quarter valued at $338,000. Mariner LLC lifted its stake in shares of Shopify by 2.8% in the 4th quarter. Mariner LLC now owns 284,325 shares of the software maker’s stock valued at $30,233,000 after purchasing an additional 7,788 shares during the period. Finally, CreativeOne Wealth LLC lifted its stake in shares of Shopify by 123.7% in the 4th quarter. CreativeOne Wealth LLC now owns 12,643 shares of the software maker’s stock valued at $1,344,000 after purchasing an additional 6,992 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Up 0.5%

Shares of NYSE:SHOP opened at $150.09 on Thursday. Shopify Inc. has a 12-month low of $65.86 and a 12-month high of $156.85. The stock has a market cap of $194.72 billion, a PE ratio of 96.83, a P/E/G ratio of 4.82 and a beta of 2.63. The business has a 50 day moving average of $120.13 and a 200-day moving average of $108.72.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Shopify had a net margin of 22.74% and a return on equity of 12.00%. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s quarterly revenue was up 31.1% on a year-over-year basis. Equities research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SHOP. Evercore ISI increased their price target on Shopify from $120.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. UBS Group increased their price target on Shopify from $110.00 to $145.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. BNP Paribas Exane downgraded Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a research note on Monday, May 5th. Oppenheimer raised their price objective on Shopify from $145.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, Mizuho raised their price objective on Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.51.

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.