Nykredit A S Acquires New Position in Shopify Inc. $SHOP

Nykredit A S bought a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 297,200 shares of the software maker’s stock, valued at approximately $33,990,000.

Other institutional investors also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its position in shares of Shopify by 16.8% in the second quarter. Parkside Financial Bank & Trust now owns 1,204 shares of the software maker’s stock valued at $137,000 after buying an additional 173 shares in the last quarter. Range Advisory LLC purchased a new stake in shares of Shopify in the second quarter valued at about $203,000. Tucker Asset Management LLC acquired a new stake in shares of Shopify in the second quarter valued at approximately $445,000. Wellington Grp LLC grew its holdings in Shopify by 66.8% during the 2nd quarter. Wellington Grp LLC now owns 6,821 shares of the software maker’s stock valued at $779,000 after buying an additional 2,732 shares during the last quarter. Finally, Carlson Financial Inc. grew its holdings in Shopify by 1.4% during the 2nd quarter. Carlson Financial Inc. now owns 39,730 shares of the software maker’s stock valued at $4,536,000 after buying an additional 558 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Royal Bank Of Canada set a $180.00 price target on Shopify and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. DZ Bank lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. UBS Group reissued a “neutral” rating and issued a $145.00 target price (up from $130.00) on shares of Shopify in a research report on Thursday, August 6th. Jefferies Financial Group restated a “buy” rating and issued a $175.00 target price on shares of Shopify in a report on Wednesday, August 5th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $180.00 price target (up from $144.00) on shares of Shopify in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.34.

Shopify Price Performance

Shares of SHOP opened at $128.50 on Friday. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 0.01. The firm has a market cap of $165.33 billion, a price-to-earnings ratio of 86.82, a PEG ratio of 2.61 and a beta of 2.61. The stock has a 50 day moving average of $136.53 and a 200-day moving average of $123.48.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Shopify had a return on equity of 12.58% and a net margin of 14.53%.The business had revenue of $3.58 billion during the quarter. During the same quarter in the prior year, the firm earned $0.69 EPS. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. As a group, analysts forecast that Shopify Inc. will post 1.46 EPS for the current year.

About Shopify

Shopify Inc (NASDAQ:SHOP) is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow retail operations. Its platform enables merchants to create and manage online stores, sell through social media and other digital channels, and support in-person sales through Shopify’s point-of-sale solutions.

Shopify’s products and services include online storefront and website-building tools, payment processing through Shopify Payments, point-of-sale hardware and software, inventory and order management, shipping and fulfillment tools, marketing features, analytics, and financing services for eligible merchants.