BI Asset Management Fondsmaeglerselskab A S Buys 6,349 Shares of Shopify Inc. $SHOP

BI Asset Management Fondsmaeglerselskab A S increased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 2.8% during the second quarter, HoldingsChannel.com reports. The firm owned 231,739 shares of the software maker’s stock after acquiring an additional 6,349 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Shopify were worth $26,731,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SHOP. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Shopify by 171.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock worth $48,827,000 after acquiring an additional 267,271 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Shopify by 4.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,231,257 shares of the software maker’s stock valued at $603,425,000 after purchasing an additional 218,829 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Shopify by 9.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 400,389 shares of the software maker’s stock worth $46,185,000 after purchasing an additional 35,113 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Shopify by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,622,495 shares of the software maker’s stock worth $301,869,000 after purchasing an additional 67,260 shares during the period. Finally, ARK Investment Management LLC raised its stake in Shopify by 13.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,049,508 shares of the software maker’s stock valued at $582,461,000 after buying an additional 605,283 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Trading Down 0.3%

Shopify stock opened at $164.19 on Friday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19. The firm has a market capitalization of $213.75 billion, a price-to-earnings ratio of 121.62, a P/E/G ratio of 6.12 and a beta of 2.82. The firm has a 50 day moving average of $159.60 and a 200 day moving average of $139.56.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The business 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%. On average, analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

SHOP has been the topic of a number of research reports. DA Davidson raised their price target on Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Scotiabank boosted their price target on Shopify from $150.00 to $165.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 5th. KeyCorp upped their price target on shares of Shopify from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Wedbush reissued an “outperform” rating and issued a $185.00 price objective (up previously from $160.00) on shares of Shopify in a report on Tuesday, November 4th. Finally, BMO Capital Markets upped their target price on shares of Shopify from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, November 5th. Twenty-two research analysts have rated the stock with a Buy rating and twenty-three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $166.53.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through 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, manage cash, payments and transactions, and access financing.