Nilsine Partners LLC Increases Stock Holdings in Shopify Inc. $SHOP

Nilsine Partners LLC increased its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 43.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 18,528 shares of the software maker’s stock after acquiring an additional 5,646 shares during the period. Nilsine Partners LLC’s holdings in Shopify were worth $2,753,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SHOP. Mirae Asset Global Investments Co. Ltd. increased its holdings in Shopify by 171.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock worth $48,827,000 after purchasing an additional 267,271 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Shopify by 4.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,231,257 shares of the software maker’s stock worth $603,425,000 after buying an additional 218,829 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Shopify by 9.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 400,389 shares of the software maker’s stock valued at $46,185,000 after acquiring an additional 35,113 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Shopify by 2.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,622,495 shares of the software maker’s stock worth $301,869,000 after acquiring an additional 67,260 shares in the last quarter. Finally, ARK Investment Management LLC grew its holdings in Shopify by 13.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,049,508 shares of the software maker’s stock worth $582,461,000 after acquiring an additional 605,283 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the topic of several research analyst reports. KeyCorp increased their price target on shares of Shopify from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Royal Bank Of Canada increased their target price on Shopify from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Robert W. Baird boosted their price target on Shopify from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, October 7th. DZ Bank raised Shopify from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shopify in a report on Monday, December 8th. Twenty-two research analysts have rated the stock with a Buy rating and twenty-three have given a Hold rating to the company’s stock. According to data from MarketBeat, Shopify has a consensus rating of “Hold” and an average price target of $166.53.

Shopify Price Performance

Shares of SHOP opened at $159.85 on Tuesday. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19. The stock has a fifty day moving average price of $159.51 and a 200 day moving average price of $140.39. The company has a market cap of $208.10 billion, a P/E ratio of 118.41, a PEG ratio of 6.10 and a beta of 2.82.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. As a group, research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

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.