Vaughan Nelson Investment Management L.P. Makes New $119.30 Million Investment in Shopify Inc. $SHOP

Vaughan Nelson Investment Management L.P. bought a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,005,760 shares of the software maker’s stock, valued at approximately $119,303,000. Shopify comprises about 1.2% of Vaughan Nelson Investment Management L.P.’s investment portfolio, making the stock its 17th largest holding. Vaughan Nelson Investment Management L.P. owned 0.08% of Shopify as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Shopify by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after buying an additional 743,803 shares in the last quarter. Norges Bank acquired a new stake in shares of Shopify in the 4th quarter worth $2,611,797,000. Invesco Ltd. raised its holdings in shares of Shopify by 9.8% during the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock worth $2,257,796,000 after acquiring an additional 1,252,074 shares during the period. Geode Capital Management LLC raised its holdings in shares of Shopify by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock worth $2,043,365,000 after acquiring an additional 737,892 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Shopify by 9.1% during the 4th quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock valued at $1,627,352,000 after acquiring an additional 827,643 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

NASDAQ SHOP opened at $108.85 on Monday. The stock has a fifty day simple moving average of $113.17 and a 200-day simple moving average of $129.81. The stock has a market cap of $141.25 billion, a PE ratio of 107.77, a P/E/G ratio of 2.99 and a beta of 2.60. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (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 for the quarter, compared to analyst estimates of $3.08 billion. Research analysts predict that Shopify Inc. will post 1.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SHOP. Citizens Jmp dropped their price objective on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. UBS Group reaffirmed a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. Jefferies Financial Group reiterated a “hold” rating and issued a $140.00 target price (down from $150.00) on shares of Shopify in a report on Tuesday, May 5th. Citigroup reissued a “market outperform” rating on shares of Shopify in a research note on Thursday. Finally, Canaccord Genuity Group cut their price target on shares of Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

About Shopify

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.