Mn Services Vermogensbeheer B.V. Increases Holdings in Shopify Inc. $SHOP

Mn Services Vermogensbeheer B.V. raised its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 364,072 shares of the software maker’s stock after acquiring an additional 6,800 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Shopify were worth $54,088,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Norris Financial Group LLC purchased a new stake in Shopify during the first quarter valued at about $1,586,000. Infusive Asset Management Inc. grew its stake in shares of Shopify by 27.4% during the first quarter. Infusive Asset Management Inc. now owns 43,611 shares of the software maker’s stock valued at $5,173,000 after buying an additional 9,374 shares during the last quarter. OMERS ADMINISTRATION Corp increased its holdings in shares of Shopify by 18.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 58,044 shares of the software maker’s stock worth $6,876,000 after buying an additional 9,096 shares during the period. Ninepoint Partners LP purchased a new position in shares of Shopify in the second quarter worth about $29,027,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Shopify by 8.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker’s stock valued at $998,137,000 after acquiring an additional 660,198 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 0.9%

NASDAQ SHOP opened at $164.56 on Friday. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.35 and a current ratio of 5.35. The stock has a 50 day simple moving average of $144.30 and a two-hundred day simple moving average of $125.88. The stock has a market cap of $211.73 billion, a P/E ratio of 111.19, a price-to-earnings-growth ratio of 3.43 and a beta of 2.62.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The firm had revenue of $3.58 billion for the quarter. Shopify had a return on equity of 12.58% and a net margin of 14.53%.Shopify’s quarterly revenue was up 33.7% on a year-over-year basis. During the same period last year, the firm posted $0.69 earnings per share. On average, analysts forecast that Shopify Inc. will post 1.46 earnings per share for the current year.

Wall Street Analyst Weigh In

SHOP has been the subject of several analyst reports. Rothschild & Co Redburn set a $130.00 target price on Shopify and gave the company a “neutral” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. lifted their price target on Shopify from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wells Fargo & Company reiterated an “overweight” rating and issued a $180.00 price objective (up from $144.00) on shares of Shopify in a research report on Friday, August 7th. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, August 17th. Finally, BMO Capital Markets set a $165.00 target price on shares of Shopify and gave the stock an “outperform” rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $172.39.

About Shopify

Shopify Inc is a commerce technology company that provides tools for businesses to start, operate and grow online and in physical retail environments. Its platform enables merchants to create and manage online stores, sell through multiple channels, process orders and payments, manage inventory and engage with customers.

Shopify’s products and services include its core commerce platform, Shopify Plus for larger businesses, Shopify Payments, Shop Pay, point-of-sale solutions and tools for marketing, shipping, analytics and customer management.