Shopify Inc. $SHOP Shares Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. grew its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 18.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,414,866 shares of the software maker’s stock after purchasing an additional 220,481 shares during the period. TD Waterhouse Canada Inc.’s holdings in Shopify were worth $172,369,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SHOP. Norges Bank purchased a new position in shares of Shopify during the fourth quarter valued at approximately $2,611,797,000. Invesco Ltd. boosted its holdings in shares of Shopify by 9.8% during the fourth quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock worth $2,257,796,000 after purchasing an additional 1,252,074 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Shopify by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock valued at $2,043,365,000 after purchasing an additional 737,892 shares during the period. Mackenzie Financial Corp grew its position in shares of Shopify by 9.1% in the fourth quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock valued at $1,627,352,000 after purchasing an additional 827,643 shares during the period. Finally, Sands Capital Management LLC increased its stake in Shopify by 37.0% in the fourth quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock valued at $1,530,187,000 after purchasing an additional 2,568,765 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of Shopify stock opened at $145.88 on Friday. The business’s fifty day moving average price is $133.64 and its 200 day moving average price is $122.54. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $187.70 billion, a P/E ratio of 98.57, a PEG ratio of 2.90 and a beta of 2.61.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced 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. The company had revenue of $3.58 billion during the quarter. Shopify had a return on equity of 12.58% and a net margin of 14.53%.The business’s revenue was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. As a group, research analysts anticipate that Shopify Inc. will post 1.45 earnings per share for the current year.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent analyst reports. BTIG Research initiated coverage on Shopify in a research report on Friday, July 10th. They set a “buy” rating on the stock. Weiss Ratings upgraded Shopify from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 17th. Royal Bank Of Canada set a $180.00 price objective on shares of Shopify and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Truist Financial set a $180.00 price objective on shares of Shopify and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $175.00 target price on shares of Shopify in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $170.84.

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.