Asahi Life Asset Management CO. LTD. Buys Shares of 4,570 Shopify Inc. (NYSE:SHOP)

Asahi Life Asset Management CO. LTD. bought a new stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 4,570 shares of the software maker’s stock, valued at approximately $486,000.

Other institutional investors also recently bought and sold shares of the company. HM Payson & Co. grew its position in shares of Shopify by 37.2% during the third quarter. HM Payson & Co. now owns 686 shares of the software maker’s stock worth $55,000 after buying an additional 186 shares in the last quarter. US Bancorp DE grew its position in shares of Shopify by 4.3% during the third quarter. US Bancorp DE now owns 66,992 shares of the software maker’s stock worth $5,369,000 after buying an additional 2,776 shares in the last quarter. Stephens Inc. AR grew its position in shares of Shopify by 17.3% during the third quarter. Stephens Inc. AR now owns 47,671 shares of the software maker’s stock worth $3,820,000 after buying an additional 7,029 shares in the last quarter. Americana Partners LLC grew its position in shares of Shopify by 157.2% during the third quarter. Americana Partners LLC now owns 15,555 shares of the software maker’s stock worth $1,247,000 after buying an additional 9,508 shares in the last quarter. Finally, EMC Capital Management grew its position in shares of Shopify by 198.7% during the third quarter. EMC Capital Management now owns 7,468 shares of the software maker’s stock worth $598,000 after buying an additional 4,968 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SHOP has been the subject of several recent analyst reports. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Wells Fargo & Company boosted their price objective on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Piper Sandler boosted their price objective on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Royal Bank of Canada boosted their price objective on Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Price Performance

NYSE SHOP opened at $111.97 on Friday. The firm has a market capitalization of $144.98 billion, a P/E ratio of 72.24, a P/E/G ratio of 4.82 and a beta of 2.47. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $129.38. The business’s 50-day simple moving average is $112.88 and its 200-day simple moving average is $96.94.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, equities research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.