Bessemer Group Inc. Buys 93,754 Shares of Shopify Inc. $SHOP

Bessemer Group Inc. boosted its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 796,081 shares of the software maker’s stock after acquiring an additional 93,754 shares during the period. Bessemer Group Inc. owned 0.06% of Shopify worth $128,145,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of SHOP. Twin Peaks Wealth Advisors LLC grew its position in shares of Shopify by 1.7% during the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock valued at $512,000 after acquiring an additional 59 shares during the period. Moloney Securities Asset Management LLC grew 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 acquiring an additional 70 shares during the period. Seros Financial LLC grew its position 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 valued at $424,000 after acquiring an additional 75 shares during the period. First Affirmative Financial Network grew its position in shares of Shopify by 3.4% during the 3rd quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker’s stock valued at $338,000 after acquiring an additional 75 shares during the period. Finally, TBH Global Asset Management LLC grew its position in shares of Shopify by 1.2% during the 4th quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock valued at $1,036,000 after acquiring an additional 75 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Trading Up 2.9%

SHOP opened at $100.28 on Friday. The company has a 50 day moving average of $119.12 and a 200 day moving average of $138.41. The company has a market cap of $130.13 billion, a PE ratio of 99.29, a price-to-earnings-growth ratio of 2.73 and a beta of 2.64. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping the consensus estimate of $0.22 by $998.78. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. Research analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of research reports. TD Cowen raised shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 target price for the company in a research report on Wednesday, February 11th. Robert W. Baird set a $150.00 target price on shares of Shopify in a research report on Wednesday, May 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $170.00 target price on shares of Shopify in a research report on Wednesday, May 6th. UBS Group set a $130.00 target price on shares of Shopify and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Piper Sandler reissued an “overweight” rating and set a $150.00 target price (down from $165.00) on shares of Shopify in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.42.

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.