Cambridge Investment Research Advisors Inc. Has $29.28 Million Holdings in Shopify Inc. $SHOP

Cambridge Investment Research Advisors Inc. lessened its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 15.6% in the 4th quarter, Holdings Channel reports. The firm owned 181,879 shares of the software maker’s stock after selling 33,624 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Shopify were worth $29,277,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SHOP. Brighton Jones LLC raised its holdings in Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after acquiring an additional 584 shares during the period. AQR Capital Management LLC raised its holdings in Shopify by 107.3% in the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after acquiring an additional 7,544 shares during the period. Sivia Capital Partners LLC raised its holdings in Shopify by 6.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after acquiring an additional 506 shares during the period. Osterweis Capital Management Inc. bought a new position in Shopify in the 2nd quarter worth $53,000. Finally, Main Street Financial Solutions LLC raised its holdings in Shopify by 15.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock worth $1,284,000 after acquiring an additional 1,479 shares during the period. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on SHOP shares. Moffett Nathanson upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Monday, February 9th. Jefferies Financial Group reiterated a “hold” rating and issued a $140.00 target price (down from $150.00) on shares of Shopify in a report on Tuesday, May 5th. KeyCorp reiterated an “overweight” rating and issued a $160.00 target price on shares of Shopify in a report on Wednesday, February 11th. Wedbush dropped their target price on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $180.00 target price on shares of Shopify in a report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average price target of $158.42.

Shopify Stock Performance

NASDAQ:SHOP opened at $100.28 on Monday. The firm’s 50-day moving average is $119.12 and its 200-day moving average is $138.15. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The company has a market cap of $130.13 billion, a price-to-earnings ratio of 99.29, a PEG ratio of 2.81 and a beta of 2.64.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data 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. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. Equities analysts predict that Shopify Inc. will post 1.36 EPS for the current year.

Shopify Profile

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.