Triasima Portfolio Management inc. Purchases 30,061 Shares of Shopify Inc. $SHOP

Triasima Portfolio Management inc. lifted its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 22.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 164,310 shares of the software maker’s stock after purchasing an additional 30,061 shares during the period. Shopify comprises 3.7% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 2nd largest holding. Triasima Portfolio Management inc.’s holdings in Shopify were worth $24,416,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Financial Gravity Companies Inc. bought a new stake in Shopify during the 2nd quarter worth approximately $27,000. Rothschild Investment LLC lifted its holdings in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after purchasing an additional 75 shares during the period. Heartwood Wealth Advisors LLC bought a new stake in shares of Shopify in the third quarter worth $27,000. Tradewinds Capital Management LLC grew its stake in shares of Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Finally, Coastline Trust Co acquired a new stake in Shopify in the second quarter valued at $29,000. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

NASDAQ SHOP opened at $150.38 on Tuesday. The stock has a market capitalization of $195.77 billion, a P/E ratio of 111.39, a P/E/G ratio of 4.60 and a beta of 2.83. The business has a 50 day simple moving average of $159.98 and a 200 day simple moving average of $150.08. Shopify Inc. has a one year low of $69.84 and a one year high of $182.19.

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. KeyCorp lifted their target price on Shopify from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. BNP Paribas Exane started coverage on Shopify in a research report on Monday, November 24th. They set a “neutral” rating for the company. CIBC reaffirmed an “outperform” rating on shares of Shopify in a research note on Wednesday, November 5th. Robert W. Baird upped their target price on Shopify from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, October 7th. Finally, BMO Capital Markets raised their price target on shares of Shopify from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Twenty-four investment analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $171.61.

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.