University of Texas Texas AM Investment Management Co. Makes New Investment in Shopify Inc. $SHOP

University of Texas Texas AM Investment Management Co. acquired a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 5,813 shares of the software maker’s stock, valued at approximately $936,000.

Other hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC increased its holdings in Shopify by 12.1% in the 4th quarter. Truvestments Capital LLC now owns 12,979 shares of the software maker’s stock worth $2,089,000 after buying an additional 1,398 shares during the period. USS Investment Management Ltd lifted its holdings in Shopify by 0.5% in the fourth quarter. USS Investment Management Ltd now owns 191,740 shares of the software maker’s stock valued at $30,846,000 after acquiring an additional 982 shares during the period. Zinnia Wealth Advisory LLC purchased a new stake in Shopify in the 4th quarter worth approximately $366,000. Vanguard Personalized Indexing Management LLC grew its stake in shares of Shopify by 8.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 64,297 shares of the software maker’s stock worth $10,350,000 after purchasing an additional 4,998 shares during the period. Finally, Venture Visionary Partners LLC lifted its stake in shares of Shopify by 10.5% in the 4th quarter. Venture Visionary Partners LLC now owns 85,930 shares of the software maker’s stock valued at $13,832,000 after purchasing an additional 8,168 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citizens Jmp lowered their target price on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 6th. Truist Financial set a $150.00 price target on Shopify and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Needham & Company LLC restated a “buy” rating and issued a $180.00 price objective on shares of Shopify in a research report on Tuesday, May 5th. DZ Bank raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Finally, DA Davidson cut their target price on shares of Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Stock Performance

Shares of SHOP 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 stock has a market capitalization of $145.97 billion, a PE ratio of 111.38, a PEG ratio of 3.03 and a beta of 2.60. The stock has a 50-day simple moving average of $113.88 and a 200-day simple moving average of $131.13.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, beating the consensus estimate of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. Analysts predict that Shopify Inc. will post 1.36 EPS 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.