Shopify Inc. $SHOP Stock Holdings Boosted by Welch & Forbes LLC

Welch & Forbes LLC lifted its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.0% during the third quarter, Holdings Channel reports. The institutional investor owned 150,548 shares of the software maker’s stock after buying an additional 4,432 shares during the quarter. Welch & Forbes LLC’s holdings in Shopify were worth $22,373,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Twin Peaks Wealth Advisors LLC lifted its holdings in Shopify by 1.7% in the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock valued at $512,000 after acquiring an additional 59 shares during the last quarter. Accurate Wealth Management LLC lifted its stake in Shopify by 2.0% during the third quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock valued at $526,000 after purchasing an additional 67 shares during the last quarter. Rothschild Investment LLC boosted its holdings in 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 buying an additional 75 shares in the last quarter. Sivia Capital Partners LLC grew its position in Shopify by 0.9% in the third quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock worth $1,228,000 after buying an additional 75 shares during the last quarter. Finally, Strategic Advisors LLC grew its position in Shopify by 0.3% in the third quarter. Strategic Advisors LLC now owns 28,785 shares of the software maker’s stock worth $4,278,000 after buying an additional 76 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

NASDAQ SHOP opened at $131.23 on Friday. The firm has a market capitalization of $170.84 billion, a price-to-earnings ratio of 97.21, a price-to-earnings-growth ratio of 4.23 and a beta of 2.83. The company has a 50 day simple moving average of $158.37 and a 200-day simple moving average of $151.06. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SHOP shares. Morgan Stanley reissued an “overweight” rating and set a $192.00 price objective (up from $165.00) on shares of Shopify in a research note on Wednesday, November 5th. Scotiabank upgraded Shopify from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $165.00 to $200.00 in a research report on Thursday, January 8th. Zacks Research downgraded Shopify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. UBS Group set a $195.00 target price on shares of Shopify in a report on Wednesday, December 3rd. Finally, BMO Capital Markets lifted their target price on shares of Shopify from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Twenty-four research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.