Dynamic Technology Lab Private Ltd Takes $1.50 Million Position in Shopify Inc. $SHOP

Dynamic Technology Lab Private Ltd purchased a new stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 9,290 shares of the software maker’s stock, valued at approximately $1,495,000.

Several other large investors have also recently modified their holdings of the company. Hel Ved Capital Management Ltd raised its stake in shares of Shopify by 70.5% during the 4th quarter. Hel Ved Capital Management Ltd now owns 20,285 shares of the software maker’s stock worth $3,265,000 after acquiring an additional 8,385 shares in the last quarter. Platinum Investment Management Ltd. bought a new position in shares of Shopify during the 4th quarter worth approximately $1,314,000. Sumitomo Life Insurance Co. raised its stake in shares of Shopify by 0.9% during the 4th quarter. Sumitomo Life Insurance Co. now owns 11,597 shares of the software maker’s stock worth $1,867,000 after acquiring an additional 101 shares in the last quarter. Wealthspire Advisors LLC raised its stake in shares of Shopify by 14.5% during the 4th quarter. Wealthspire Advisors LLC now owns 20,360 shares of the software maker’s stock worth $3,277,000 after acquiring an additional 2,572 shares in the last quarter. Finally, Atalanta Sosnoff Capital LLC raised its stake in shares of Shopify by 1.1% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 47,979 shares of the software maker’s stock worth $7,723,000 after acquiring an additional 513 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SHOP. BMO Capital Markets reduced their price objective on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Robert W. Baird set a $150.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. Weiss Ratings lowered shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Citizens Jmp reduced their price objective on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Trading Down 2.0%

NASDAQ:SHOP opened at $108.24 on Friday. The company has a market cap of $140.46 billion, a PE ratio of 107.17, a P/E/G ratio of 3.10 and a beta of 2.60. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The company’s 50 day moving average is $113.99 and its two-hundred day moving average is $131.61.

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

Shopify Company 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.