Shopify Inc. $SHOP Stake Boosted by Integrity Alliance LLC.

Integrity Alliance LLC. increased its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 214.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.

Several other large investors have also recently added to or reduced their stakes in SHOP. Thrivent Financial for Lutherans lifted its stake in Shopify by 7,207.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock worth $184,883,000 after purchasing an additional 1,132,545 shares during the last quarter. Select Equity Group L.P. lifted its stake in Shopify by 92.5% during the second quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock worth $259,124,000 after purchasing an additional 1,079,494 shares during the last quarter. Steadfast Capital Management LP bought a new position in Shopify during the third quarter worth $140,930,000. Vanguard Group Inc. lifted its stake in Shopify by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock worth $8,158,643,000 after purchasing an additional 743,803 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in Shopify by 1,232.0% during the fourth quarter. M&T Bank Corp now owns 787,698 shares of the software maker’s stock worth $126,796,000 after purchasing an additional 728,561 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Performance

SHOP stock opened at $106.60 on Thursday. The stock has a market capitalization of $138.33 billion, a price-to-earnings ratio of 105.55, a PEG ratio of 2.94 and a beta of 2.64. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The stock’s fifty day moving average is $115.07 and its two-hundred day moving average is $134.43.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SHOP. Moffett Nathanson upgraded Shopify from a “neutral” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Monday, February 9th. Weiss Ratings cut Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. DA Davidson cut their target price on Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Wedbush cut their target price on Shopify from $185.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Finally, Barclays set a $126.00 target price on Shopify and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

About Shopify

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.