Shopify Inc. $SHOP Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lifted its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 513,830 shares of the software maker’s stock after acquiring an additional 5,514 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Shopify were worth $82,711,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Kingdom Financial Group LLC. bought a new stake in Shopify during the 4th quarter valued at $26,000. Curio Wealth LLC bought a new stake in Shopify during the 4th quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shopify during the 4th quarter valued at $29,000. Lloyd Advisory Services LLC. bought a new stake in Shopify during the 4th quarter valued at $31,000. Finally, Lodestone Wealth Management LLC bought a new stake in Shopify during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Canaccord Genuity Group cut their target price on Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Barclays set a $126.00 price objective on Shopify and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Citigroup dropped their price objective on Shopify from $163.00 to $156.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. DZ Bank raised Shopify from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $150.00 price objective (down from $165.00) on shares of Shopify in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $108.24 on Friday. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The business has a 50-day moving average of $113.99 and a two-hundred day moving average of $131.61. The stock has a market capitalization of $140.46 billion, a P/E ratio of 107.17, a P/E/G ratio of 3.10 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. As a group, research analysts expect that Shopify Inc. will post 1.36 EPS for the current fiscal year.

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.