Infusive Asset Management Inc. Boosts Stake in Shopify Inc. $SHOP

Infusive Asset Management Inc. grew its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,529 shares of the software maker’s stock after buying an additional 9,026 shares during the quarter. Shopify accounts for 2.8% of Infusive Asset Management Inc.’s investment portfolio, making the stock its 13th biggest position. Infusive Asset Management Inc.’s holdings in Shopify were worth $6,158,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in SHOP. Mather Group LLC. raised its position in Shopify by 127.4% in the 1st quarter. Mather Group LLC. now owns 912 shares of the software maker’s stock worth $87,000 after purchasing an additional 511 shares during the period. Dynamic Advisor Solutions LLC bought a new stake in shares of Shopify in the first quarter worth about $382,000. GAMMA Investing LLC increased its holdings in Shopify by 80.0% during the 1st quarter. GAMMA Investing LLC now owns 963 shares of the software maker’s stock valued at $92,000 after purchasing an additional 428 shares during the period. Bessemer Group Inc. increased its holdings in Shopify by 3.8% during the 1st quarter. Bessemer Group Inc. now owns 1,059,585 shares of the software maker’s stock valued at $101,163,000 after purchasing an additional 38,616 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Shopify by 1.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 38,732 shares of the software maker’s stock valued at $3,694,000 after purchasing an additional 432 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SHOP. National Bankshares boosted their price target on shares of Shopify from $140.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. TD Securities boosted their price target on shares of Shopify from $145.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Oppenheimer boosted their price target on shares of Shopify from $145.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Royal Bank Of Canada boosted their price target on shares of Shopify from $145.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, KeyCorp restated an “overweight” rating and issued a $175.00 price objective (up previously from $145.00) on shares of Shopify in a report on Thursday, August 7th. Twenty-four research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.27.

Shopify Stock Performance

Shares of NYSE SHOP opened at $145.15 on Friday. The firm’s 50 day moving average price is $130.26 and its 200-day moving average price is $111.04. The company has a market cap of $188.65 billion, a PE ratio of 93.65, a P/E/G ratio of 4.82 and a beta of 2.69. Shopify Inc. has a 52-week low of $65.86 and a 52-week high of $156.85.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The firm had revenue of $2.68 billion for 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%. The business’s revenue was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. On average, analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal 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.