Mn Services Vermogensbeheer B.V. Acquires 11,600 Shares of Shopify Inc. (NYSE:SHOP)

Mn Services Vermogensbeheer B.V. raised its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.5% during the fourth quarter, HoldingsChannel reports. The firm owned 476,240 shares of the software maker’s stock after buying an additional 11,600 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Shopify were worth $50,661,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SHOP. Central Asset Investments & Management Holdings HK Ltd bought a new position in Shopify during the 4th quarter worth about $279,000. K.J. Harrison & Partners Inc increased its holdings in Shopify by 163.4% during the fourth quarter. K.J. Harrison & Partners Inc now owns 30,630 shares of the software maker’s stock valued at $3,291,000 after buying an additional 19,000 shares during the period. NewEdge Wealth LLC increased its holdings in Shopify by 80.2% during the fourth quarter. NewEdge Wealth LLC now owns 51,933 shares of the software maker’s stock valued at $5,522,000 after buying an additional 23,108 shares during the period. Simmons Bank bought a new position in Shopify in the fourth quarter worth approximately $295,000. Finally, Checchi Capital Advisers LLC lifted its holdings in Shopify by 4.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 4,983 shares of the software maker’s stock worth $530,000 after buying an additional 208 shares during the period. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 2.3 %

Shares of Shopify stock opened at $113.46 on Thursday. The stock has a market cap of $146.91 billion, a PE ratio of 73.20, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The business has a fifty day simple moving average of $112.74 and a 200-day simple moving average of $96.35. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several recent research reports. Evercore ISI boosted their price target on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. ATB Capital upped their price objective on shares of Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Morgan Stanley upped their price target on shares of Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and issued a $125.00 price target on shares of Shopify in a research note on Tuesday, February 11th. Finally, TD Securities increased their price objective on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify 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.