Knights of Columbus Asset Advisors LLC Takes Position in Shopify Inc. $SHOP

Knights of Columbus Asset Advisors LLC bought a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the third quarter, according to its most recent filing with the SEC. The firm bought 27,655 shares of the software maker’s stock, valued at approximately $4,110,000.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC raised its holdings in Shopify by 61.2% during the third quarter. Golden State Wealth Management LLC now owns 1,106 shares of the software maker’s stock worth $164,000 after buying an additional 420 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Shopify during the third quarter worth about $138,000. Hollencrest Capital Management increased its position in shares of Shopify by 19.9% during the third quarter. Hollencrest Capital Management now owns 3,267 shares of the software maker’s stock worth $486,000 after acquiring an additional 542 shares in the last quarter. Strategic Advisors LLC raised its holdings in shares of Shopify by 0.3% in the 3rd quarter. Strategic Advisors LLC now owns 28,785 shares of the software maker’s stock worth $4,278,000 after acquiring an additional 76 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its position in Shopify by 1.4% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 15,592 shares of the software maker’s stock valued at $2,317,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

SHOP opened at $143.64 on Friday. The firm has a market cap of $187.00 billion, a P/E ratio of 106.40, a PEG ratio of 4.11 and a beta of 2.83. The firm has a 50-day moving average of $158.71 and a 200 day moving average of $150.96. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released 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. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. Equities research analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on SHOP shares. Benchmark reissued a “buy” rating on shares of Shopify in a report on Wednesday, December 3rd. DZ Bank upgraded Shopify from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Raymond James Financial restated a “market perform” rating on shares of Shopify in a research note on Monday, December 1st. Royal Bank Of Canada set a $200.00 price objective on shares of Shopify and gave the stock an “outperform” rating in a report on Monday. Finally, TD Cowen reiterated a “hold” rating and issued a $156.00 target price on shares of Shopify in a report on Friday, October 3rd. Twenty-four research analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $171.61.

Shopify Company 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.