Mn Services Vermogensbeheer B.V. Raises Position in Shopify Inc. $SHOP

Mn Services Vermogensbeheer B.V. increased its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 471,672 shares of the software maker’s stock after purchasing an additional 8,632 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Shopify were worth $76,045,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Twin Peaks Wealth Advisors LLC increased its position in Shopify by 1.7% in the third quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock worth $512,000 after buying an additional 59 shares during the last quarter. Accurate Wealth Management LLC lifted its position in shares of Shopify by 2.0% during the 3rd quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock valued at $526,000 after buying an additional 67 shares during the last quarter. Moloney Securities Asset Management LLC lifted its position in shares of Shopify by 1.8% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock valued at $587,000 after buying an additional 70 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Shopify by 0.9% during the 3rd quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock worth $1,228,000 after acquiring an additional 75 shares during the period. Finally, Seros Financial LLC grew its stake in shares of Shopify by 2.7% during the 3rd quarter. Seros Financial LLC now owns 2,856 shares of the software maker’s stock worth $424,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 0.1%

Shares of NASDAQ SHOP opened at $111.77 on Tuesday. The company has a market cap of $145.76 billion, a P/E ratio of 120.18, a P/E/G ratio of 3.96 and a beta of 2.83. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The business has a 50-day simple moving average of $124.22 and a two-hundred day simple moving average of $146.90.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SHOP shares. Needham & Company LLC restated a “buy” rating and issued a $180.00 price objective on shares of Shopify in a research note on Thursday, February 12th. Moffett Nathanson upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Monday, February 9th. Piper Sandler assumed coverage on shares of Shopify in a research note on Thursday, March 12th. They issued an “overweight” rating and a $165.00 target price for the company. Jefferies Financial Group boosted their price target on shares of Shopify from $125.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, March 9th. Finally, Bank of America upped their price target on shares of Shopify from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given 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 $163.38.

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.