Vanguard Personalized Indexing Management LLC Buys 4,051 Shares of Shopify Inc. $SHOP

Vanguard Personalized Indexing Management LLC increased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,299 shares of the software maker’s stock after acquiring an additional 4,051 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Shopify were worth $8,813,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Shopify by 2.8% during the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after buying an additional 584 shares during the period. AQR Capital Management LLC boosted its position in shares of Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after acquiring an additional 7,544 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Shopify by 6.6% during the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after purchasing an additional 506 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Shopify by 32.6% in the second quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker’s stock worth $1,570,000 after purchasing an additional 3,347 shares during the last quarter. Finally, Coastline Trust Co purchased a new stake in Shopify in the second quarter valued at approximately $29,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SHOP. Oppenheimer reissued an “outperform” rating on shares of Shopify in a report on Monday, December 1st. DA Davidson boosted their target price on Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Cantor Fitzgerald reissued a “neutral” rating and issued a $181.00 price target (up previously from $156.00) on shares of Shopify in a report on Wednesday, November 5th. Wolfe Research raised shares of Shopify from a “hold” rating to an “outperform” rating in a research note on Tuesday, January 6th. Finally, BNP Paribas Exane initiated coverage on shares of Shopify in a report on Monday, November 24th. They set a “neutral” rating for the company. Twenty-four analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $171.61.

Shopify Trading Down 1.1%

NASDAQ:SHOP opened at $136.31 on Tuesday. The company has a 50 day simple moving average of $158.92 and a two-hundred day simple moving average of $150.91. The company has a market cap of $177.45 billion, a PE ratio of 100.97, a price-to-earnings-growth ratio of 4.08 and a beta of 2.83. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19.

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