Shopify Inc. (NYSE:SHOP) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 237,799 shares of the software maker’s stock after purchasing an additional 20,990 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Shopify were worth $262,713,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SHOP. First Trust Advisors LP grew its holdings in Shopify by 15.6% during the 1st quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock worth $723,000 after acquiring an additional 472 shares in the last quarter. Berman Capital Advisors LLC lifted its position in shares of Shopify by 16.4% in the 4th quarter. Berman Capital Advisors LLC now owns 327 shares of the software maker’s stock worth $368,000 after buying an additional 46 shares during the last quarter. First Foundation Advisors bought a new position in shares of Shopify in the 4th quarter worth about $208,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Shopify by 35.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,009 shares of the software maker’s stock worth $1,142,000 after buying an additional 262 shares during the last quarter. Finally, ExodusPoint Capital Management LP lifted its position in shares of Shopify by 117.9% in the 4th quarter. ExodusPoint Capital Management LP now owns 4,777 shares of the software maker’s stock worth $5,407,000 after buying an additional 2,585 shares during the last quarter. 58.99% of the stock is owned by institutional investors.

Shares of SHOP stock traded up $19.94 during trading on Thursday, hitting $1,589.30. 55,589 shares of the company were exchanged, compared to its average volume of 1,244,901. The company has a debt-to-equity ratio of 0.10, a current ratio of 17.13 and a quick ratio of 17.13. The company has a market capitalization of $197.60 billion, a price-to-earnings ratio of 124.09, a price-to-earnings-growth ratio of 39.97 and a beta of 1.45. The business’s 50-day moving average is $1,351.98. Shopify Inc. has a twelve month low of $839.40 and a twelve month high of $1,587.74.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, April 28th. The software maker reported $2.01 EPS for the quarter, topping the consensus estimate of $0.74 by $1.27. The business had revenue of $988.70 million during the quarter, compared to analysts’ expectations of $851.43 million. Shopify had a net margin of 46.67% and a return on equity of 6.52%. The firm’s quarterly revenue was up 110.4% compared to the same quarter last year. During the same period last year, the company posted $0.19 earnings per share. On average, equities analysts predict that Shopify Inc. will post 1.53 earnings per share for the current year.

A number of research firms have recently issued reports on SHOP. Citigroup raised their price target on shares of Shopify from $1,315.00 to $1,420.00 in a research report on Thursday, April 29th. Susquehanna lifted their price objective on shares of Shopify from $1,500.00 to $1,800.00 and gave the company a “positive” rating in a research report on Thursday. lifted their price objective on shares of Shopify from $1,315.00 to $1,420.00 and gave the company a “neutral” rating in a research report on Thursday, April 29th. TheStreet upgraded shares of Shopify from a “c” rating to a “b-” rating in a research report on Monday, May 3rd. Finally, Guggenheim set a $1,442.63 price objective on shares of Shopify and gave the company a “hold” rating in a research report on Sunday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Shopify has an average rating of “Buy” and a consensus target price of $1,495.08.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, the United Kingdom, Australia, Latin America, and internationally. The company's platform provides merchants to run their business in 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, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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