Royal London Asset Management Ltd. Purchases 5,514 Shares of Shopify Inc. $SHOP

Royal London Asset Management Ltd. boosted its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 513,830 shares of the software maker’s stock after acquiring an additional 5,514 shares during the period. Royal London Asset Management Ltd.’s holdings in Shopify were worth $82,711,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Shopify by 2.8% in the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after acquiring an additional 584 shares during the last quarter. AQR Capital Management LLC increased its stake in Shopify by 107.3% in the first 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 last quarter. Sivia Capital Partners LLC increased its stake in Shopify by 6.6% in the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock valued at $945,000 after acquiring an additional 506 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in Shopify in the second quarter valued at approximately $53,000. Finally, Main Street Financial Solutions LLC increased its stake in Shopify by 15.3% in the second quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock valued at $1,284,000 after acquiring an additional 1,479 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 2.0%

NASDAQ SHOP opened at $108.24 on Friday. The company has a market capitalization of $140.46 billion, a price-to-earnings ratio of 107.17, a PEG ratio of 3.10 and a beta of 2.60. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The stock has a fifty day simple moving average of $113.99 and a 200 day simple moving average of $131.61.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and issued a $175.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. DA Davidson decreased their price objective on shares of Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. DZ Bank upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Barclays set a $126.00 price target on shares of Shopify and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $170.00 price target on shares of Shopify in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $157.17.

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.