Venture Visionary Partners LLC Purchases 8,168 Shares of Shopify Inc. $SHOP

Venture Visionary Partners LLC increased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 85,930 shares of the software maker’s stock after acquiring an additional 8,168 shares during the period. Venture Visionary Partners LLC’s holdings in Shopify were worth $13,832,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Shopify by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after purchasing an additional 743,803 shares in the last quarter. Norges Bank purchased a new stake in shares of Shopify during the fourth quarter valued at $2,611,797,000. Geode Capital Management LLC increased its holdings in Shopify by 6.2% in 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 buying an additional 737,892 shares in the last quarter. Sands Capital Management LLC increased its holdings in Shopify by 37.0% in the 4th quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock worth $1,530,187,000 after buying an additional 2,568,765 shares in the last quarter. Finally, TD Asset Management Inc raised its position in Shopify by 2.2% in the 4th quarter. TD Asset Management Inc now owns 8,713,762 shares of the software maker’s stock worth $1,404,790,000 after buying an additional 185,252 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

Shares of SHOP stock opened at $108.24 on Monday. The company has a market cap of $140.46 billion, a price-to-earnings ratio of 107.17, a PEG ratio of 3.03 and a beta of 2.60. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The firm has a fifty day moving average price of $113.99 and a 200-day moving average price of $131.44.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. Equities research analysts expect that Shopify Inc. will post 1.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SHOP shares. Robert W. Baird set a $150.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $170.00 price objective on shares of Shopify in a report on Wednesday, May 6th. UBS Group restated a “neutral” rating on shares of Shopify in a research report on Thursday, May 28th. DZ Bank upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Finally, Truist Financial set a $150.00 target price on shares of Shopify and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.