Mirae Asset Global Investments Co. Ltd. Has $69.31 Million Stock Position in Shopify Inc. $SHOP

Mirae Asset Global Investments Co. Ltd. boosted its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 10.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 466,369 shares of the software maker’s stock after purchasing an additional 43,074 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Shopify were worth $69,307,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Financial Gravity Companies Inc. bought a new stake in shares of Shopify during the 2nd quarter worth approximately $27,000. Rothschild Investment LLC raised its position in Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Heartwood Wealth Advisors LLC bought a new stake in Shopify during the third quarter worth $27,000. Tradewinds Capital Management LLC lifted its stake in Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Finally, Estabrook Capital Management acquired a new stake in shares of Shopify in the 2nd quarter valued at $29,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $181.00 price objective (up from $156.00) on shares of Shopify in a research note on Wednesday, November 5th. Barclays set a $140.00 price target on shares of Shopify and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. TD Securities upgraded shares of Shopify to a “hold” rating in a research report on Thursday, December 4th. Zacks Research downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, National Bankshares boosted their target price on shares of Shopify from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Twenty-four analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the company’s stock. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.61.

Shopify Stock Up 1.0%

Shares of Shopify stock opened at $138.92 on Thursday. The stock has a market cap of $180.85 billion, a price-to-earnings ratio of 102.90, a P/E/G ratio of 4.06 and a beta of 2.83. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19. The company’s fifty day moving average is $158.72 and its 200 day moving average is $151.01.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings results 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 return on equity of 11.72% and a net margin of 16.65%.The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. As a group, equities analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.