Swiss Life Asset Management Ltd Raises Position in Shopify Inc. $SHOP

Swiss Life Asset Management Ltd boosted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 19.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 166,613 shares of the software maker’s stock after purchasing an additional 26,808 shares during the period. Swiss Life Asset Management Ltd’s holdings in Shopify were worth $24,788,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in shares of Shopify by 2.8% in the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after buying an additional 584 shares during the period. AQR Capital Management LLC boosted its holdings in Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after acquiring an additional 7,544 shares during the period. Sivia Capital Partners LLC grew its position in Shopify by 6.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after acquiring an additional 506 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Shopify by 100.4% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 85,860 shares of the software maker’s stock worth $9,904,000 after acquiring an additional 43,021 shares during the last quarter. Finally, Rothschild Investment LLC lifted its position in Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Raymond James Financial restated a “market perform” rating on shares of Shopify in a report on Monday, December 1st. TD Securities raised shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $175.00 price objective on shares of Shopify in a research report on Thursday, February 12th. ATB Cormark Capital Markets raised shares of Shopify from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. Finally, Wolfe Research raised Shopify from a “hold” rating to an “outperform” rating in a research note on Tuesday, January 6th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.38.

Shopify Price Performance

Shares of NASDAQ SHOP opened at $122.35 on Friday. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19. The stock has a market capitalization of $159.56 billion, a P/E ratio of 131.56, a P/E/G ratio of 4.39 and a beta of 2.83. The company’s 50-day moving average is $130.53 and its 200 day moving average is $148.18.

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.