Shopify Inc. $SHOP Stock Holdings Boosted by Nilsine Partners LLC

Nilsine Partners LLC grew its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 43.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 18,528 shares of the software maker’s stock after purchasing an additional 5,646 shares during the quarter. Nilsine Partners LLC’s holdings in Shopify were worth $2,753,000 as of its most recent filing with the SEC.

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

Shopify Trading Down 2.6%

Shares of NASDAQ SHOP opened at $159.85 on Tuesday. Shopify Inc. has a one year low of $69.84 and a one year high of $182.19. The business has a 50-day moving average price of $159.51 and a two-hundred day moving average price of $140.39. The firm has a market capitalization of $208.10 billion, a PE ratio of 118.41, a PEG ratio of 6.10 and a beta of 2.82.

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

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of recent research reports. DA Davidson increased their price objective on Shopify from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. BNP Paribas began coverage on Shopify in a research report on Monday, November 24th. They set a “neutral” rating on the stock. BNP Paribas Exane assumed coverage on Shopify in a research report on Monday, November 24th. They issued a “neutral” rating for the company. TD Cowen reissued a “hold” rating and issued a $156.00 price target on shares of Shopify in a research note on Friday, October 3rd. Finally, UBS Group set a $195.00 price objective on shares of Shopify in a research note on Wednesday, December 3rd. Twenty-two analysts have rated the stock with a Buy rating and twenty-three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $166.53.

About Shopify

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.