NBH Bank Acquires New Shares in Shopify Inc. $SHOP

NBH Bank bought a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the second quarter, Holdings Channel reports. The institutional investor bought 6,317 shares of the software maker’s stock, valued at approximately $721,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Norris Financial Group LLC acquired a new stake in shares of Shopify in the first quarter worth about $1,586,000. Infusive Asset Management Inc. increased its holdings in shares of Shopify by 27.4% during the 1st quarter. Infusive Asset Management Inc. now owns 43,611 shares of the software maker’s stock valued at $5,173,000 after acquiring an additional 9,374 shares during the last quarter. OMERS ADMINISTRATION Corp increased its holdings in shares of Shopify by 18.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 58,044 shares of the software maker’s stock valued at $6,876,000 after acquiring an additional 9,096 shares during the last quarter. Ninepoint Partners LP bought a new position in shares of Shopify in the 2nd quarter valued at approximately $29,027,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Shopify by 8.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker’s stock valued at $998,137,000 after acquiring an additional 660,198 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SHOP shares. Evercore reaffirmed an “outperform” rating and set a $175.00 target price (up from $135.00) on shares of Shopify in a research report on Wednesday, August 5th. Morgan Stanley lowered shares of Shopify from an “overweight” rating to a “buy” rating in a research report on Monday, July 13th. Royal Bank Of Canada set a $180.00 price objective on shares of Shopify and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. The Goldman Sachs Group upped their price objective on shares of Shopify from $170.00 to $194.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Citizens Jmp raised their target price on shares of Shopify from $150.00 to $185.00 and gave the company a “market outperform” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $170.84.

Shopify Stock Performance

SHOP opened at $145.09 on Friday. The firm has a market capitalization of $186.68 billion, a P/E ratio of 98.03, a price-to-earnings-growth ratio of 2.98 and a beta of 2.61. The stock’s 50 day moving average price is $134.20 and its two-hundred day moving average price is $122.69. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.01. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. Shopify had a return on equity of 12.58% and a net margin of 14.53%.The company had revenue of $3.58 billion for the quarter. During the same period in the prior year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was up 33.7% on a year-over-year basis. On average, equities analysts forecast that Shopify Inc. will post 1.45 earnings per share for the current year.

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.