Louisbourg Investments Inc. Has $14.64 Million Position in Shopify Inc. $SHOP

Louisbourg Investments Inc. raised its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 84.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,616 shares of the software maker’s stock after buying an additional 56,746 shares during the quarter. Shopify comprises approximately 2.6% of Louisbourg Investments Inc.’s portfolio, making the stock its 4th biggest position. Louisbourg Investments Inc.’s holdings in Shopify were worth $14,638,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Kingdom Financial Group LLC. bought a new stake in shares of Shopify in the 4th quarter worth approximately $26,000. Curio Wealth LLC bought a new stake in Shopify in the fourth quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shopify in the fourth quarter worth $29,000. Lodestone Wealth Management LLC bought a new stake in Shopify in the fourth quarter worth $31,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Shopify by 82.4% during the fourth quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock valued at $31,000 after acquiring an additional 89 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SHOP. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Shopify in a research report on Wednesday, May 6th. UBS Group reaffirmed a “neutral” rating on shares of Shopify in a report on Thursday, May 28th. Barclays set a $126.00 target price on shares of Shopify and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. DA Davidson reduced their price target on shares of Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Finally, National Bank Financial decreased their price objective on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Stock Performance

Shopify stock opened at $116.86 on Friday. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19. The stock has a fifty day moving average of $112.68 and a 200 day moving average of $128.33. The stock has a market cap of $151.64 billion, a PE ratio of 115.70, a price-to-earnings-growth ratio of 3.21 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $998.78. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. As a group, sell-side analysts predict that Shopify Inc. will post 1.39 EPS for the current fiscal year.

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.