Henshaw Capital LLC Acquires New Position in Shopify Inc. $SHOP

Henshaw Capital LLC bought a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 5,797 shares of the software maker’s stock, valued at approximately $688,000.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Shopify by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock worth $8,158,643,000 after acquiring an additional 743,803 shares during the period. Norges Bank acquired a new stake in Shopify in the fourth quarter valued at $2,611,797,000. Invesco Ltd. boosted its position in shares of Shopify by 9.8% during the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock worth $2,257,796,000 after purchasing an additional 1,252,074 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Shopify by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock worth $2,043,365,000 after purchasing an additional 737,892 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Shopify by 9.1% during the 4th quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock worth $1,627,352,000 after purchasing an additional 827,643 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of Shopify in a report on Monday, July 20th. UBS Group reissued a “neutral” rating on shares of Shopify in a report on Thursday, May 28th. DA Davidson lowered their target price on shares of Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Citizens Jmp dropped their target price on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. Finally, Benchmark reiterated a “buy” rating on shares of Shopify in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.69.

Shopify Stock Down 4.3%

Shopify stock opened at $117.15 on Friday. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The firm’s 50-day simple moving average is $116.58 and its 200 day simple moving average is $120.67. The firm has a market capitalization of $152.02 billion, a PE ratio of 115.99, a P/E/G ratio of 2.53 and a beta of 2.58.

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.