Rakuten Investment Management Inc. Acquires Shares of 14,164 Shopify Inc. $SHOP

Rakuten Investment Management Inc. bought a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,164 shares of the software maker’s stock, valued at approximately $2,105,000.

Other institutional investors also recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new position in Shopify during the second quarter worth about $27,000. Rothschild Investment LLC increased its holdings in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after purchasing an additional 75 shares during the period. Heartwood Wealth Advisors LLC acquired a new stake in shares of Shopify in the third quarter valued at approximately $27,000. Tradewinds Capital Management LLC boosted its stake in shares of Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after buying an additional 100 shares during the period. Finally, Coastline Trust Co bought a new stake in shares of Shopify in the second quarter valued at approximately $29,000. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SHOP. Stifel Nicolaus set a $175.00 price objective on Shopify in a report on Tuesday, November 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $192.00 price objective (up previously from $165.00) on shares of Shopify in a research report on Wednesday, November 5th. Wedbush reiterated an “outperform” rating and set a $185.00 price objective (up from $160.00) on shares of Shopify in a research note on Tuesday, November 4th. TD Cowen restated a “hold” rating and issued a $156.00 target price on shares of Shopify in a research report on Friday, October 3rd. Finally, Zacks Research downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Twenty-four research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $171.61.

Shopify Trading Up 0.2%

SHOP stock opened at $137.89 on Friday. The firm has a 50-day moving average price of $159.00 and a 200-day moving average price of $150.25. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19. The stock has a market capitalization of $179.51 billion, a P/E ratio of 102.14, a price-to-earnings-growth ratio of 4.07 and a beta of 2.83.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. As a group, equities analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal 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.