366,880 Shares in Shopify Inc. $SHOP Acquired by Nykredit A S

Nykredit A S acquired a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 366,880 shares of the software maker’s stock, valued at approximately $41,959,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. EMC Capital Management acquired a new position in shares of Shopify during the 2nd quarter valued at about $154,000. Tsfg LLC grew its holdings in shares of Shopify by 4.0% in the second quarter. Tsfg LLC now owns 2,028 shares of the software maker’s stock valued at $232,000 after purchasing an additional 78 shares during the period. Laidlaw Wealth Management LLC increased its position in Shopify by 11.4% during the second quarter. Laidlaw Wealth Management LLC now owns 2,347 shares of the software maker’s stock worth $268,000 after purchasing an additional 240 shares during the last quarter. Bedel Financial Consulting Inc. increased its position in Shopify by 10.2% during the second quarter. Bedel Financial Consulting Inc. now owns 3,580 shares of the software maker’s stock worth $409,000 after purchasing an additional 330 shares during the last quarter. Finally, Midwest Professional Planners LTD. raised its stake in Shopify by 7.0% during the second quarter. Midwest Professional Planners LTD. now owns 15,606 shares of the software maker’s stock worth $1,782,000 after purchasing an additional 1,018 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 2.8%

NASDAQ SHOP opened at $145.88 on Friday. The firm’s 50-day moving average is $133.64 and its two-hundred day moving average is $122.54. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.35 and a quick ratio of 5.35. The stock has a market capitalization of $187.70 billion, a P/E ratio of 98.57, a PEG ratio of 2.90 and a beta of 2.61.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $3.58 billion during the quarter. Shopify had a net margin of 14.53% and a return on equity of 12.58%. Shopify’s revenue was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share. On average, sell-side analysts anticipate that Shopify Inc. will post 1.45 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on SHOP shares. Rosenblatt Securities started coverage on shares of Shopify in a report on Thursday, August 20th. They issued a “buy” rating and a $175.00 target price on the stock. Wedbush raised their price target on shares of Shopify from $155.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. The Goldman Sachs Group lifted their price target on shares of Shopify from $170.00 to $194.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Cantor Fitzgerald upped their price objective on Shopify from $127.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, Bank of America initiated coverage on Shopify in a research report on Tuesday, July 7th. They issued a “buy” rating and a $150.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $170.84.

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.