Natixis Advisors LLC Boosts Stake in Shopify Inc. (NYSE:SHOP)

Natixis Advisors LLC raised its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,382,889 shares of the software maker’s stock after purchasing an additional 118,886 shares during the quarter. Natixis Advisors LLC’s holdings in Shopify were worth $110,825,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group increased its position in Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the last quarter. Cultivar Capital Inc. bought a new stake in Shopify in the second quarter worth about $33,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Shopify during the second quarter valued at approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Shopify during the 2nd quarter valued at $39,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of research analyst reports. KeyCorp upped their price target on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group boosted their price target on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company lifted their target price on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup increased their price target on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Truist Financial lifted their price objective on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $94.95.

Shopify Stock Down 0.5 %

SHOP stock opened at $108.49 on Friday. The firm has a 50-day simple moving average of $81.97 and a 200-day simple moving average of $71.02. The company has a quick ratio of 7.32, a current ratio of 7.10 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $139.99 billion, a P/E ratio of 101.38, a P/E/G ratio of 3.71 and a beta of 2.36. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $115.62.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Shopify had a return on equity of 11.60% and a net margin of 16.84%. Equities analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Shopify Company Profile

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.