Shopify Inc. $SHOP Shares Acquired by Cim LLC

Cim LLC lifted its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,512 shares of the software maker’s stock after buying an additional 160 shares during the quarter. Cim LLC’s holdings in Shopify were worth $1,194,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Shopify by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker’s stock worth $4,563,106,000 after buying an additional 882,168 shares during the period. Mackenzie Financial Corp raised its stake in Shopify by 19.7% in the 1st quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock valued at $822,745,000 after purchasing an additional 1,426,406 shares during the last quarter. Nuveen LLC acquired a new position in Shopify in the 1st quarter valued at $667,392,000. Canada Pension Plan Investment Board raised its stake in Shopify by 34.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock valued at $565,504,000 after purchasing an additional 1,522,573 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Shopify by 21.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker’s stock valued at $539,382,000 after purchasing an additional 979,598 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Up 2.0%

Shares of NASDAQ:SHOP opened at $145.03 on Friday. The business has a fifty day moving average of $133.25 and a two-hundred day moving average of $111.82. The stock has a market cap of $188.49 billion, a P/E ratio of 81.02, a PEG ratio of 6.74 and a beta of 2.69. Shopify Inc. has a 52-week low of $69.63 and a 52-week high of $156.85.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released 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 analysts’ expectations of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The company’s revenue was up 31.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 EPS. On average, equities analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on SHOP. Benchmark reissued a “buy” rating and issued a $140.00 price objective (up from $125.00) on shares of Shopify in a research note on Tuesday, August 5th. DA Davidson increased their price objective on Shopify from $125.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Phillip Securities downgraded Shopify from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 12th. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 6th. Finally, Loop Capital downgraded Shopify from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Tuesday, July 22nd. Twenty-four analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $150.27.

About Shopify

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.