Vanguard Personalized Indexing Management LLC Has $10.35 Million Position in Shopify Inc. $SHOP

Vanguard Personalized Indexing Management LLC grew its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 8.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 64,297 shares of the software maker’s stock after buying an additional 4,998 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Shopify were worth $10,350,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SHOP. First Affirmative Financial Network raised its position in Shopify by 3.4% in 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 in the last quarter. TBH Global Asset Management LLC raised its position in Shopify by 1.2% in 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 in the last quarter. Smartleaf Asset Management LLC raised its position in Shopify by 13.9% in the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after purchasing an additional 77 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in Shopify by 2.6% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,164 shares of the software maker’s stock worth $509,000 after purchasing an additional 80 shares in the last quarter. Finally, Pacific Sage Partners LLC raised its position in Shopify by 3.9% in the fourth quarter. Pacific Sage Partners LLC now owns 2,133 shares of the software maker’s stock worth $343,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several recent research reports. Wells Fargo & Company dropped their price target on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Jefferies Financial Group reissued a “hold” rating and issued a $140.00 price target (down from $150.00) on shares of Shopify in a research report on Tuesday, May 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 price objective on shares of Shopify in a report on Tuesday, May 5th. BMO Capital Markets dropped their price objective on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Finally, Citigroup dropped their price objective on shares of Shopify from $163.00 to $156.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average price target of $157.17.

Shopify Price Performance

SHOP opened at $112.49 on Tuesday. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19. The company’s 50 day simple moving average is $113.88 and its 200-day simple moving average is $131.13. The stock has a market capitalization of $145.97 billion, a P/E ratio of 111.38, a price-to-earnings-growth ratio of 3.03 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. As a group, analysts anticipate that Shopify Inc. will post 1.36 EPS for the current year.

About Shopify

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.