Shopify Inc. $SHOP Shares Acquired by RFG Advisory LLC

RFG Advisory LLC raised its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 38.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 25,701 shares of the software maker’s stock after acquiring an additional 7,099 shares during the period. RFG Advisory LLC’s holdings in Shopify were worth $3,049,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SHOP. Norges Bank purchased a new stake in shares of Shopify during the 4th quarter worth approximately $2,611,797,000. Sands Capital Management LLC grew its position in shares of Shopify by 37.0% in the 4th quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock valued at $1,530,187,000 after buying an additional 2,568,765 shares during the last quarter. Invesco Ltd. grew its position in shares of Shopify by 9.8% in the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after buying an additional 1,252,074 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Shopify by 7,207.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock worth $184,883,000 after acquiring an additional 1,132,545 shares in the last quarter. Finally, Select Equity Group L.P. raised its stake in Shopify by 92.5% during the 2nd quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock worth $259,124,000 after acquiring an additional 1,079,494 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $116.86 on Friday. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19. The stock has a market cap of $151.64 billion, a P/E ratio of 115.70, a P/E/G ratio of 3.07 and a beta of 2.60. The firm has a fifty day moving average price of $112.68 and a 200 day moving average price of $128.33.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Sell-side analysts expect that Shopify Inc. will post 1.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SHOP shares. DA Davidson decreased their price objective on shares of Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and set a $180.00 target price on shares of Shopify in a research report on Tuesday, May 5th. Robert W. Baird set a $150.00 target price on Shopify in a report on Wednesday, May 6th. Weiss Ratings cut Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, UBS Group restated a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Profile

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.