Mn Services Vermogensbeheer B.V. increased its position in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 1.7% in the first quarter, HoldingsChannel.com reports. The firm owned 48,712 shares of the software maker’s stock after acquiring an additional 800 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Shopify were worth $13,438,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Financial Advocates Investment Management boosted its stake in shares of Shopify by 4.2% during the 4th quarter. Financial Advocates Investment Management now owns 3,873 shares of the software maker’s stock valued at $536,000 after buying an additional 155 shares during the period. Bollard Group LLC boosted its stake in shares of Shopify by 1,935.0% during the 4th quarter. Bollard Group LLC now owns 20,350 shares of the software maker’s stock valued at $2,817,000 after buying an additional 19,350 shares during the period. Henry James International Management Inc. boosted its stake in shares of Shopify by 140.7% during the 1st quarter. Henry James International Management Inc. now owns 33,947 shares of the software maker’s stock valued at $7,014,000 after buying an additional 19,846 shares during the period. Brown Advisory Inc. boosted its stake in shares of Shopify by 6.9% during the 4th quarter. Brown Advisory Inc. now owns 4,927 shares of the software maker’s stock valued at $682,000 after buying an additional 318 shares during the period. Finally, Barton Investment Management boosted its stake in shares of Shopify by 5.6% during the 4th quarter. Barton Investment Management now owns 304,743 shares of the software maker’s stock valued at $42,192,000 after buying an additional 16,208 shares during the period. 65.38% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on SHOP shares. Wedbush reissued an “outperform” rating and set a $177.00 target price on shares of Shopify in a research note on Monday, January 28th. Royal Bank of Canada raised shares of Shopify from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $180.00 to $230.00 in a research note on Wednesday, February 13th. KeyCorp assumed coverage on shares of Shopify in a research note on Monday, April 29th. They set an “overweight” rating and a $250.00 target price for the company. Rosenblatt Securities raised their price target on shares of Shopify from $190.00 to $212.00 and gave the company a “buy” rating in a report on Thursday, February 14th. Finally, Macquarie raised their price target on shares of Shopify to $230.00 and gave the company an “outperform” rating in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $237.71.
Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, April 30th. The software maker reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.35) by $0.44. The firm had revenue of $320.50 million for the quarter, compared to the consensus estimate of $310.11 million. Shopify had a negative net margin of 6.17% and a negative return on equity of 3.74%. The business’s quarterly revenue was up 49.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 EPS. On average, research analysts expect that Shopify Inc will post -1 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This story was first posted by Dakota Financial News and is the property of of Dakota Financial News. If you are reading this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark legislation. The original version of this story can be viewed at https://dakotafinancialnews.com/2019/05/14/shopify-inc-shop-position-boosted-by-mn-services-vermogensbeheer-b-v.html.
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc (NYSE:SHOP) (TSE:SHOP).
Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.