Neuberger Berman Group LLC Purchases 146,640 Shares of Shopify Inc. (NYSE:SHOP)

Neuberger Berman Group LLC increased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 44.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 478,839 shares of the software maker’s stock after acquiring an additional 146,640 shares during the quarter. Neuberger Berman Group LLC’s holdings in Shopify were worth $45,657,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of SHOP. Fourth Dimension Wealth LLC bought a new position in Shopify in the 4th quarter worth $30,000. Smithfield Trust Co increased its holdings in shares of Shopify by 149.2% during the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock worth $30,000 after purchasing an additional 188 shares during the period. Dagco Inc. bought a new position in shares of Shopify during the 1st quarter worth about $30,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Shopify by 86.8% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 355 shares of the software maker’s stock worth $34,000 after purchasing an additional 165 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Shopify during the 4th quarter worth about $46,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analyst Weigh In

SHOP has been the topic of several research reports. Scotiabank restated a “sector perform” rating and set a $150.00 price objective (up previously from $115.00) on shares of Shopify in a report on Thursday, August 7th. JMP Securities boosted their price objective on shares of Shopify from $135.00 to $185.00 and gave the stock a “market outperform” rating in a report on Thursday, August 7th. Arete restated a “neutral” rating on shares of Shopify in a report on Wednesday, July 23rd. Mizuho boosted their price objective on shares of Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Shopify from $115.00 to $179.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.51.

Shopify Trading Up 0.5%

Shares of SHOP stock opened at $150.09 on Thursday. Shopify Inc. has a 1 year low of $65.86 and a 1 year high of $156.85. The firm’s 50 day moving average is $120.13 and its 200-day moving average is $108.72. The firm has a market capitalization of $194.72 billion, a price-to-earnings ratio of 96.83, a PEG ratio of 4.82 and a beta of 2.63.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a net margin of 22.74% and a return on equity of 12.00%. Shopify’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share. On average, equities research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Shopify Company 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.