Legal & General Group Plc Has $1.02 Billion Holdings in Shopify Inc. $SHOP

Legal & General Group Plc lifted its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,349,261 shares of the software maker’s stock after purchasing an additional 160,376 shares during the period. Legal & General Group Plc owned 0.49% of Shopify worth $1,023,638,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Moloney Securities Asset Management LLC lifted its holdings in shares of Shopify by 1.8% during the third quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock worth $587,000 after purchasing an additional 70 shares during the period. Seros Financial LLC lifted its holdings in shares of Shopify by 2.7% during the third quarter. Seros Financial LLC now owns 2,856 shares of the software maker’s stock worth $424,000 after purchasing an additional 75 shares during the period. First Affirmative Financial Network lifted its holdings in shares of Shopify by 3.4% during the third quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker’s stock worth $338,000 after purchasing an additional 75 shares during the period. TBH Global Asset Management LLC lifted its holdings in shares of Shopify by 1.2% during the fourth quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock worth $1,036,000 after purchasing an additional 75 shares during the period. Finally, Strategic Advisors LLC lifted its holdings in shares of Shopify by 0.3% during the third quarter. Strategic Advisors LLC now owns 28,785 shares of the software maker’s stock worth $4,278,000 after purchasing an additional 76 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NASDAQ SHOP opened at $103.00 on Monday. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The firm has a fifty day simple moving average of $116.29 and a 200 day simple moving average of $135.60. The company has a market capitalization of $133.66 billion, a PE ratio of 101.98, a P/E/G ratio of 2.89 and a beta of 2.64.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. As a group, equities analysts expect that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. DZ Bank upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Royal Bank Of Canada reiterated an “outperform” rating and set a $170.00 price target on shares of Shopify in a report on Wednesday, May 6th. Moffett Nathanson upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Monday, February 9th. Barclays set a $126.00 price target on shares of Shopify and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, Canaccord Genuity Group cut their price target on shares of Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.42.

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.