Dockside LLC Takes Position in Shopify Inc. $SHOP

Dockside LLC bought a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 14,993 shares of the software maker’s stock, valued at approximately $2,413,000.

A number of other institutional investors have also modified their holdings of SHOP. Brighton Jones LLC raised its stake in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after purchasing an additional 584 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Shopify by 107.3% in the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after purchasing an additional 7,544 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Shopify by 6.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock valued at $945,000 after purchasing an additional 506 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in shares of Shopify in the 2nd quarter valued at about $53,000. Finally, Main Street Financial Solutions LLC raised its stake in shares of Shopify by 15.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock valued at $1,284,000 after purchasing an additional 1,479 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Down 2.0%

SHOP opened at $108.24 on Friday. The firm has a market cap of $140.46 billion, a price-to-earnings ratio of 107.17, a price-to-earnings-growth ratio of 3.03 and a beta of 2.60. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The company’s 50-day moving average price is $113.99 and its 200 day moving average price is $131.61.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping the consensus estimate of $0.22 by $998.78. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. Research analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays set a $126.00 target price on shares of Shopify and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Citizens Jmp cut 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. National Bank Financial cut their target price on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Royal Bank Of Canada restated an “outperform” rating and issued a $170.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Finally, Truist Financial set a $150.00 price objective on shares of Shopify and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.