Daiwa Securities Group Inc. Has $27.66 Million Stock Holdings in Shopify Inc. $SHOP

Daiwa Securities Group Inc. grew its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,800 shares of the software maker’s stock after purchasing an additional 9,793 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Shopify were worth $27,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHOP. Norges Bank bought a new stake in Shopify in the 4th quarter valued at about $2,611,797,000. Thrivent Financial for Lutherans increased its position in Shopify by 7,207.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock valued at $184,883,000 after buying an additional 1,132,545 shares in the last quarter. Select Equity Group L.P. increased its position in Shopify by 92.5% in the 2nd quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock valued at $259,124,000 after buying an additional 1,079,494 shares in the last quarter. Steadfast Capital Management LP bought a new stake in Shopify in the 3rd quarter valued at about $140,930,000. Finally, Vanguard Group Inc. increased its position in Shopify by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after buying an additional 743,803 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SHOP. Needham & Company LLC reaffirmed a “buy” rating and issued a $180.00 target price on shares of Shopify in a research report on Tuesday, May 5th. ATB Cormark Capital Markets raised Shopify from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $175.00 target price on shares of Shopify in a research report on Thursday, February 12th. TD Securities raised Shopify from a “hold” rating to a “buy” rating and set a $159.00 target price for the company in a research report on Thursday, February 12th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $140.00 price objective (down from $150.00) on shares of Shopify in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Shopify Stock Down 5.6%

SHOP stock opened at $109.54 on Friday. The firm has a market cap of $142.15 billion, a PE ratio of 108.46, a P/E/G ratio of 3.25 and a beta of 2.60. The business has a 50 day moving average of $114.55 and a 200-day moving average of $132.80. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $998.78. The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. On average, research analysts expect that Shopify Inc. will post 1.36 earnings per share for the current 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.