Vanguard Personalized Indexing Management LLC Buys 4,051 Shares of Shopify Inc. $SHOP

Vanguard Personalized Indexing Management LLC increased its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,299 shares of the software maker’s stock after purchasing an additional 4,051 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Shopify were worth $8,813,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Shopify by 2.8% during the second quarter. Vanguard Group Inc. now owns 49,316,695 shares of the software maker’s stock valued at $5,688,053,000 after purchasing an additional 1,354,415 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Shopify by 64.3% during the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock worth $2,812,211,000 after buying an additional 7,403,821 shares in the last quarter. Norges Bank bought a new position in Shopify in the second quarter valued at about $1,794,952,000. Loomis Sayles & Co. L P raised its stake in Shopify by 1.3% during the second quarter. Loomis Sayles & Co. L P now owns 14,622,787 shares of the software maker’s stock worth $1,686,738,000 after acquiring an additional 191,824 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Shopify by 19.9% in the second quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after acquiring an additional 1,781,530 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

Shares of SHOP stock opened at $136.31 on Tuesday. Shopify Inc. has a one year low of $69.84 and a one year high of $182.19. The company has a market cap of $177.45 billion, a P/E ratio of 100.97, a P/E/G ratio of 4.08 and a beta of 2.83. The firm has a 50-day moving average of $158.92 and a 200-day moving average of $150.91.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. As a group, research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SHOP. Truist Financial set a $155.00 price objective on shares of Shopify and gave the stock a “hold” rating in a research report on Tuesday, November 4th. UBS Group set a $195.00 price target on shares of Shopify in a research note on Wednesday, December 3rd. Needham & Company LLC reiterated a “buy” rating and set a $180.00 price target on shares of Shopify in a report on Wednesday, November 5th. Wolfe Research raised Shopify from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $192.00 price objective (up from $165.00) on shares of Shopify in a research note on Wednesday, November 5th. Twenty-four research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $171.61.

Shopify Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.