Shopify Inc. $SHOP Shares Purchased by Nikko Asset Management Americas Inc.

by · The Markets Daily

Nikko Asset Management Americas Inc. increased its holdings in shares of Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,013,998 shares of the software maker’s stock after acquiring an additional 30,649 shares during the quarter. Shopify makes up 5.8% of Nikko Asset Management Americas Inc.’s portfolio, making the stock its 3rd biggest position. Nikko Asset Management Americas Inc.’s holdings in Shopify were worth $578,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rothschild Investment LLC increased its position in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Shopify by 13.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after purchasing an additional 77 shares during the period. LM Advisors LLC raised its stake in shares of Shopify by 2.2% in the 2nd quarter. LM Advisors LLC now owns 4,045 shares of the software maker’s stock valued at $467,000 after purchasing an additional 88 shares during the period. Prosperity Consulting Group LLC raised its stake in shares of Shopify by 1.5% in the 2nd quarter. Prosperity Consulting Group LLC now owns 6,011 shares of the software maker’s stock valued at $693,000 after purchasing an additional 90 shares during the period. Finally, Hummer Financial Advisory Services Inc lifted its holdings in shares of Shopify by 3.8% in the second quarter. Hummer Financial Advisory Services Inc now owns 2,595 shares of the software maker’s stock valued at $299,000 after purchasing an additional 95 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Down 0.3%

Shares of SHOP stock opened at $164.19 on Friday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19. The company has a market capitalization of $213.75 billion, a PE ratio of 121.62, a price-to-earnings-growth ratio of 6.10 and a beta of 2.82. The firm has a 50 day moving average price of $159.60 and a two-hundred day moving average price of $139.79.

Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last announced its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. As a group, research analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Barclays set a $140.00 target price on Shopify and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. BMO Capital Markets boosted their price objective on shares of Shopify from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Stifel Nicolaus set a $175.00 target price on shares of Shopify in a report on Tuesday, November 4th. BNP Paribas Exane began coverage on shares of Shopify in a research note on Monday, November 24th. They issued a “neutral” rating on the stock. Finally, Zacks Research cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Twenty-two analysts have rated the stock with a Buy rating and twenty-three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $166.53.

View Our Latest Stock Analysis on Shopify

Shopify Company Profile

(Free Report)

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.

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