Shopify Inc. $SHOP Holdings Raised by Integrity Alliance LLC.

Integrity Alliance LLC. lifted its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 214.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,068 shares of the software maker’s stock after purchasing an additional 15,740 shares during the quarter. Integrity Alliance LLC.’s holdings in Shopify were worth $3,713,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC grew its holdings in Shopify by 2.8% during the fourth 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 grew its holdings in Shopify by 107.3% during the first 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 grew its holdings in Shopify by 6.6% during the second 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. acquired a new position in Shopify during the second quarter worth about $53,000. Finally, Main Street Financial Solutions LLC grew its holdings in Shopify by 15.3% during the second 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. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

Shares of Shopify stock opened at $106.60 on Thursday. The firm has a market cap of $138.33 billion, a price-to-earnings ratio of 105.55, a P/E/G ratio of 2.94 and a beta of 2.64. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The stock has a 50-day simple moving average of $115.07 and a 200-day simple moving average of $134.43.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $998.78. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. As a group, equities research analysts predict that Shopify Inc. will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. DZ Bank raised Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Wedbush lowered their target price on Shopify from $185.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. UBS Group set a $130.00 target price on Shopify and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 target price on shares of Shopify in a report on Wednesday, May 6th. Finally, ATB Cormark Capital Markets raised Shopify from a “sector perform” rating to an “outperform” rating in a report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Company 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.