Mediolanum International Funds Ltd Buys 4,305 Shares of Shopify Inc. $SHOP

Mediolanum International Funds Ltd lifted its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,756 shares of the software maker’s stock after buying an additional 4,305 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Shopify were worth $10,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Shopify by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock worth $8,158,643,000 after acquiring an additional 743,803 shares during the period. Norges Bank purchased a new position in shares of Shopify in the 4th quarter valued at approximately $2,611,797,000. Invesco Ltd. lifted its stake in shares of Shopify by 9.8% in the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after purchasing an additional 1,252,074 shares during the period. Geode Capital Management LLC boosted its position in shares of Shopify by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock valued at $2,043,365,000 after purchasing an additional 737,892 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Shopify by 9.1% during the fourth quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock valued at $1,627,352,000 after purchasing an additional 827,643 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

SHOP stock opened at $123.56 on Monday. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The firm has a market cap of $160.34 billion, a PE ratio of 122.34, a price-to-earnings-growth ratio of 2.68 and a beta of 2.58. The business has a 50 day moving average of $112.47 and a 200 day moving average of $123.35.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley downgraded Shopify from an “overweight” rating to a “buy” rating in a report on Monday, July 13th. National Bank Financial dropped their target price on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Jefferies Financial Group raised shares of Shopify from a “hold” rating to a “buy” rating and upped their target price for the stock from $140.00 to $160.00 in a research report on Sunday, July 12th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $170.00 price target on shares of Shopify in a research note on Wednesday, May 6th. Finally, Canaccord Genuity Group lowered their price target on shares of Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.58.

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.