Lbp Am Sa Has $14.90 Million Stock Holdings in Shopify Inc. $SHOP

Lbp Am Sa trimmed its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 32.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 100,268 shares of the software maker’s stock after selling 47,525 shares during the period. Lbp Am Sa’s holdings in Shopify were worth $14,901,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Shopify by 2.8% in the second quarter. Vanguard Group Inc. now owns 49,316,695 shares of the software maker’s stock valued at $5,688,053,000 after acquiring an additional 1,354,415 shares during the last quarter. Jennison Associates LLC lifted its position in Shopify by 64.3% during the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock valued at $2,812,211,000 after purchasing an additional 7,403,821 shares during the period. Norges Bank acquired a new position in Shopify during the 2nd quarter valued at about $1,794,952,000. Loomis Sayles & Co. L P boosted its stake in shares of Shopify by 1.3% in the 2nd quarter. Loomis Sayles & Co. L P now owns 14,622,787 shares of the software maker’s stock valued at $1,686,738,000 after purchasing an additional 191,824 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Shopify by 19.9% during the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after buying an additional 1,781,530 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 0.2%

Shares of Shopify stock opened at $137.89 on Monday. The company has a market capitalization of $179.51 billion, a PE ratio of 102.14, a PEG ratio of 4.08 and a beta of 2.83. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19. The stock’s fifty day simple moving average is $159.00 and its 200 day simple moving average is $150.76.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Shopify had a return on equity of 11.72% and a net margin of 16.65%.The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of a number of recent research reports. Wedbush restated an “outperform” rating and issued a $185.00 price objective (up from $160.00) on shares of Shopify in a report on Tuesday, November 4th. Truist Financial set a $155.00 target price on shares of Shopify and gave the company a “hold” rating in a research report on Tuesday, November 4th. Wells Fargo & Company reissued an “overweight” rating and issued a $198.00 price target (up previously from $125.00) on shares of Shopify in a research note on Wednesday, December 17th. Raymond James Financial restated a “market perform” rating on shares of Shopify in a research report on Monday, December 1st. Finally, Bank of America lifted their price objective on Shopify from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Twenty-four equities research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $171.61.

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.