Vanguard Personalized Indexing Management LLC Raises Position in Shopify Inc. (NYSE:SHOP)

Vanguard Personalized Indexing Management LLC raised its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,858 shares of the software maker’s stock after purchasing an additional 218 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Shopify were worth $2,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. DSM Capital Partners LLC purchased a new stake in shares of Shopify in the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new stake in Shopify during the 4th quarter valued at $28,000. Cultivar Capital Inc. bought a new stake in Shopify during the 2nd quarter valued at $33,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Shopify in the 2nd quarter worth $33,000. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of Shopify in the 4th quarter worth $39,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SHOP. Truist Financial reduced their target price on Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Piper Sandler restated a “neutral” rating and issued a $67.00 price target on shares of Shopify in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Wolfe Research initiated coverage on Shopify in a report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 price objective on the stock. Finally, Evercore ISI boosted their target price on Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $77.92.

Shopify Price Performance

Shares of SHOP opened at $78.71 on Friday. The company has a market capitalization of $101.43 billion, a price-to-earnings ratio of -463.00, a price-to-earnings-growth ratio of 2.47 and a beta of 2.35. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The firm has a 50-day simple moving average of $68.41 and a 200-day simple moving average of $68.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) earnings per share. On average, equities research analysts anticipate that Shopify Inc. will post 0.76 earnings per share for the current year.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.