Mn Services Vermogensbeheer B.V. Has $68.81 Million Stake in Shopify Inc. $SHOP

Mn Services Vermogensbeheer B.V. boosted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 463,040 shares of the software maker’s stock after purchasing an additional 7,800 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Shopify were worth $68,807,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHOP. Mirae Asset Global Investments Co. Ltd. grew its holdings in Shopify by 171.3% during 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 buying an additional 267,271 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Shopify by 4.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,231,257 shares of the software maker’s stock valued at $603,425,000 after acquiring an additional 218,829 shares in the last quarter. TriaGen Wealth Management LLC purchased a new position in Shopify during the 3rd quarter worth $2,562,000. Triasima Portfolio Management inc. boosted its holdings in Shopify by 22.4% during the 3rd quarter. Triasima Portfolio Management inc. now owns 164,310 shares of the software maker’s stock worth $24,416,000 after acquiring an additional 30,061 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Shopify by 9.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 400,389 shares of the software maker’s stock worth $46,185,000 after acquiring an additional 35,113 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 0.2%

NASDAQ:SHOP opened at $137.89 on Friday. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19. The firm’s 50 day moving average is $159.00 and its 200 day moving average is $150.25. The stock has a market capitalization of $179.51 billion, a PE ratio of 102.14, a price-to-earnings-growth ratio of 4.07 and a beta of 2.83.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its 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. Shopify had a return on equity of 11.72% and a net margin of 16.65%.The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. Research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. KeyCorp raised 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. Stifel Nicolaus set a $175.00 price objective on shares of Shopify in a research note on Tuesday, November 4th. DA Davidson lifted their target price on shares of Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. BMO Capital Markets boosted their target price on Shopify from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Shopify in a report on Thursday, December 4th. Twenty-four research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.