Oddo BHF Asset Management Sas Has $19.75 Million Holdings in Shopify Inc. $SHOP

Oddo BHF Asset Management Sas grew its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 13.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,698 shares of the software maker’s stock after buying an additional 14,298 shares during the period. Oddo BHF Asset Management Sas’ holdings in Shopify were worth $19,751,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Rakuten Investment Management Inc. lifted its position in shares of Shopify by 365.9% in the fourth quarter. Rakuten Investment Management Inc. now owns 65,992 shares of the software maker’s stock worth $11,079,000 after buying an additional 51,828 shares during the last quarter. 71 West Capital Partners acquired a new position in shares of Shopify during the 4th quarter worth about $921,000. SurgoCap Partners LP acquired a new position in shares of Shopify during the 4th quarter worth about $56,039,000. Alberta Investment Management Corp acquired a new position in shares of Shopify during the 4th quarter worth about $94,694,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Shopify during the 4th quarter worth about $936,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SHOP. Citigroup cut their price objective on Shopify from $163.00 to $156.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Citizens Jmp cut their price objective on Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 6th. Wells Fargo & Company cut their price objective on Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Barclays set a $126.00 price objective on Shopify and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Robert W. Baird set a $150.00 price target on Shopify in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Trading Up 3.9%

SHOP stock opened at $112.49 on Tuesday. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19. The firm has a market cap of $145.97 billion, a P/E ratio of 111.38, a P/E/G ratio of 3.03 and a beta of 2.60. The business’s 50 day moving average is $113.88 and its 200-day moving average is $131.13.

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

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.