Generali Asset Management SPA SGR Raises Stock Holdings in Shopify Inc. $SHOP

Generali Asset Management SPA SGR boosted its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 0.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 93,504 shares of the software maker’s stock after buying an additional 714 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Shopify were worth $10,786,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC bought a new stake in shares of Shopify in the second quarter worth about $25,000. Coastline Trust Co purchased a new stake in Shopify in the 2nd quarter worth approximately $29,000. Smithfield Trust Co lifted its holdings in Shopify by 149.2% in the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock worth $30,000 after buying an additional 188 shares during the period. Dagco Inc. bought a new stake in shares of Shopify in the 1st quarter worth approximately $30,000. Finally, Global Wealth Strategies & Associates increased its stake in shares of Shopify by 182.8% during the second quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock valued at $30,000 after buying an additional 170 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $152.88 on Wednesday. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $169.69. The firm’s 50-day simple moving average is $147.70 and its two-hundred day simple moving average is $119.91. The stock has a market cap of $198.69 billion, a PE ratio of 85.41, a price-to-earnings-growth ratio of 7.19 and a beta of 2.72.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $2.68 billion for 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 business’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 EPS. Equities research analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on SHOP shares. TD Securities raised their price target on Shopify from $130.00 to $156.00 and gave the stock a “hold” rating in a research note on Friday, October 3rd. Canaccord Genuity Group raised their target price on shares of Shopify from $115.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Needham & Company LLC initiated coverage on shares of Shopify in a research report on Monday, July 14th. They set a “buy” rating and a $135.00 price target on the stock. Loop Capital downgraded shares of Shopify from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Tuesday, July 22nd. Finally, DA Davidson lifted their price objective on Shopify from $125.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Twenty-two analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $151.95.

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.