Shopify Inc. $SHOP Shares Newly Purchased by Maxi Investments CY Ltd

by · The Cerbat Gem

Maxi Investments CY Ltd bought a new stake in Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,000 shares of the software maker’s stock, valued at approximately $1,483,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SHOP. Norris Financial Group LLC purchased a new stake in Shopify in the 1st quarter valued at about $1,586,000. Infusive Asset Management Inc. increased its stake in shares of Shopify by 27.4% during the 1st quarter. Infusive Asset Management Inc. now owns 43,611 shares of the software maker’s stock valued at $5,173,000 after acquiring an additional 9,374 shares during the last quarter. OMERS ADMINISTRATION Corp increased its stake in shares of Shopify by 18.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 58,044 shares of the software maker’s stock valued at $6,876,000 after acquiring an additional 9,096 shares during the last quarter. Ninepoint Partners LP purchased a new position in shares of Shopify during the 2nd quarter worth about $29,027,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Shopify by 8.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker’s stock worth $998,137,000 after acquiring an additional 660,198 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SHOP shares. Jefferies Financial Group reissued a “buy” rating on shares of Shopify in a research report on Wednesday, October 14th. Phillip Securities downgraded shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, August 17th. RBC Dominion Securities set a $200.00 price target on shares of Shopify and gave the stock an “outperform” rating in a research report on Friday. BTIG Research initiated coverage on shares of Shopify in a research note on Friday, July 10th. They set a “buy” rating on the stock. Finally, DA Davidson set a $200.00 price target on shares of Shopify and gave the stock a “buy” rating in a research note on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.28.

View Our Latest Stock Report on Shopify

Shopify Price Performance

SHOP stock opened at $168.18 on Tuesday. The company has a market cap of $216.39 billion, a PE ratio of 113.64, a price-to-earnings-growth ratio of 3.48 and a beta of 2.62. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $151.11 and a two-hundred day moving average price of $130.31. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19.

Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $3.58 billion for the quarter. Shopify had a return on equity of 12.58% and a net margin of 14.53%. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 earnings per share. As a group, research analysts predict that Shopify Inc. will post 1.46 EPS for the current year.

About Shopify

(Free Report)

Shopify Inc is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow online and in physical retail environments. Its platform supports online storefronts, product and inventory management, order processing, marketing, analytics and customer engagement.

The company offers subscription-based plans and merchant solutions, including Shopify Payments, Shopify POS, Shopify Capital and tools for shipping, checkout and fulfillment. Shopify also supports sales through multiple channels, such as merchants’ own websites, mobile devices, social media and third-party marketplaces.

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand and Scott Lake after the founders developed an online store for snowboarding equipment.

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