Nordea Investment Management AB Acquires 18,540 Shares of Shopify Inc. $SHOP

Nordea Investment Management AB boosted its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 134.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,318 shares of the software maker’s stock after buying an additional 18,540 shares during the quarter. Nordea Investment Management AB’s holdings in Shopify were worth $4,726,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Shopify by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 49,316,695 shares of the software maker’s stock worth $5,688,053,000 after purchasing an additional 1,354,415 shares in the last quarter. Norges Bank bought a new stake in shares of Shopify during the second quarter worth $1,794,952,000. Loomis Sayles & Co. L P increased its holdings in shares of Shopify by 1.3% during the second quarter. Loomis Sayles & Co. L P now owns 14,622,787 shares of the software maker’s stock worth $1,686,738,000 after buying an additional 191,824 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Shopify by 118.1% in the 2nd quarter. Jennison Associates LLC now owns 11,519,610 shares of the software maker’s stock valued at $1,328,787,000 after acquiring an additional 6,238,829 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Shopify by 19.9% during the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock valued at $1,247,007,000 after acquiring an additional 1,781,530 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shopify stock opened at $155.81 on Friday. The firm has a market cap of $202.84 billion, a price-to-earnings ratio of 115.41, a PEG ratio of 4.60 and a beta of 2.83. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19. The firm has a 50 day moving average price of $160.05 and a two-hundred day moving average price of $149.56.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. As a group, equities research analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays set a $140.00 target price on Shopify and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Shopify in a research note on Wednesday, January 7th. BNP Paribas Exane assumed coverage on shares of Shopify in a research report on Monday, November 24th. They set a “neutral” rating on the stock. Raymond James Financial reissued a “market perform” rating on shares of Shopify in a report on Monday, December 1st. Finally, Wedbush reaffirmed an “outperform” rating and set a $185.00 price target (up previously from $160.00) on shares of Shopify in a research note on Tuesday, November 4th. Twenty-four research analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the stock. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.61.

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.