Nvwm LLC Has $1.55 Million Stock Holdings in Shopify Inc. $SHOP

Nvwm LLC decreased its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 29.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,395 shares of the software maker’s stock after selling 4,294 shares during the period. Nvwm LLC’s holdings in Shopify were worth $1,545,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Norges Bank purchased a new stake in shares of Shopify during the 2nd quarter worth about $1,794,952,000. Jennison Associates LLC increased its holdings in Shopify by 118.1% in the second quarter. Jennison Associates LLC now owns 11,519,610 shares of the software maker’s stock worth $1,328,787,000 after buying an additional 6,238,829 shares during the last quarter. Brown Advisory Inc. raised its position in Shopify by 5,193.6% during the second quarter. Brown Advisory Inc. now owns 2,066,884 shares of the software maker’s stock valued at $238,419,000 after acquiring an additional 2,027,839 shares in the last quarter. Geode Capital Management LLC raised its position in Shopify by 19.9% during the second quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock valued at $1,247,007,000 after acquiring an additional 1,781,530 shares in the last quarter. Finally, Picton Mahoney Asset Management lifted its stake in Shopify by 246,359.0% in the second quarter. Picton Mahoney Asset Management now owns 1,759,717 shares of the software maker’s stock valued at $202,146,000 after acquiring an additional 1,759,003 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and set a $185.00 price target (up previously from $160.00) on shares of Shopify in a report on Tuesday, November 4th. DA Davidson upped their price objective on shares of Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. BNP Paribas Exane initiated coverage on Shopify in a report on Monday, November 24th. They set a “neutral” rating on the stock. Benchmark reiterated a “buy” rating on shares of Shopify in a research note on Wednesday, December 3rd. Finally, Scotiabank increased their price objective on Shopify from $150.00 to $165.00 and gave the company a “sector perform” rating in a report on Wednesday, November 5th. Twenty-two analysts have rated the stock with a Buy rating and twenty-three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $168.69.

Shopify Stock Performance

Shopify stock opened at $170.83 on Friday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The firm has a market capitalization of $222.39 billion, a PE ratio of 126.54, a PEG ratio of 6.28 and a beta of 2.82. The business’s 50-day simple moving average is $161.32 and its 200-day simple moving average is $143.76.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share 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 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 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.