SBI Securities Co. Ltd. Has $5.17 Million Stock Position in Shopify Inc. $SHOP

SBI Securities Co. Ltd. lessened its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 16.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,763 shares of the software maker’s stock after selling 7,049 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Shopify were worth $5,166,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SHOP. Heartwood Wealth Advisors LLC acquired a new position in shares of Shopify in the 3rd quarter valued at approximately $27,000. Rothschild Investment LLC increased its stake in Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Financial Gravity Companies Inc. acquired a new position in Shopify during the second quarter valued at approximately $27,000. Tradewinds Capital Management LLC raised its position in Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Finally, Estabrook Capital Management bought a new stake in Shopify during the second quarter worth $29,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SHOP shares. Citigroup reiterated a “market outperform” rating on shares of Shopify in a research note on Thursday, December 4th. DZ Bank upgraded Shopify from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Wolfe Research raised shares of Shopify from a “hold” rating to an “outperform” rating in a report on Tuesday, January 6th. Royal Bank Of Canada set a $200.00 price target on shares of Shopify and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Benchmark reiterated a “buy” rating on shares of Shopify in a research report on Wednesday, December 3rd. Twenty-five research analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the stock. According to MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $171.70.

Shopify Price Performance

Shares of NASDAQ SHOP opened at $114.02 on Thursday. The company has a 50 day simple moving average of $156.24 and a 200 day simple moving average of $151.25. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19. The firm has a market cap of $148.44 billion, a PE ratio of 84.46, a price-to-earnings-growth ratio of 3.51 and a beta of 2.83.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. As a group, research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.