Americana Partners LLC Buys 18,749 Shares of Shopify Inc. $SHOP

Americana Partners LLC raised its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 61.4% during the fourth quarter, Holdings Channel reports. The fund owned 49,308 shares of the software maker’s stock after buying an additional 18,749 shares during the period. Americana Partners LLC’s holdings in Shopify were worth $7,937,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Moloney Securities Asset Management LLC grew its position in Shopify by 1.8% during the third 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 last quarter. Seros Financial LLC grew its position in Shopify by 2.7% during the third 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 last quarter. First Affirmative Financial Network grew its position in Shopify by 3.4% during the third 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 last quarter. TBH Global Asset Management LLC grew its position in Shopify by 1.2% during the fourth 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 last quarter. Finally, Strategic Advisors LLC grew its holdings in shares of Shopify by 0.3% in the third quarter. Strategic Advisors LLC now owns 28,785 shares of the software maker’s stock worth $4,278,000 after purchasing an additional 76 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on SHOP. BMO Capital Markets cut their target price on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Piper Sandler restated an “overweight” rating and issued a $150.00 target price (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Cantor Fitzgerald restated a “neutral” rating and issued a $126.00 target price (down from $181.00) on shares of Shopify in a report on Thursday, February 12th. Mizuho raised Shopify from a “neutral” rating to an “outperform” rating and set a $150.00 price target for the company in a research note on Thursday, February 12th. Finally, Benchmark dropped their price target on Shopify from $195.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.42.

Shopify Price Performance

SHOP opened at $103.00 on Friday. The stock has a 50-day moving average price of $116.29 and a 200-day moving average price of $135.86. The firm has a market cap of $133.66 billion, a PE ratio of 101.98, a P/E/G ratio of 2.94 and a beta of 2.64. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $998.78. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. As a group, sell-side analysts anticipate that Shopify Inc. will post 1.36 EPS for the current year.

About Shopify

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.