AIA Group Ltd Raises Stock Position in Shopify Inc. (NYSE:SHOP)

AIA Group Ltd grew its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 19.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 158,363 shares of the software maker’s stock after acquiring an additional 26,311 shares during the period. AIA Group Ltd’s holdings in Shopify were worth $12,691,000 as of its most recent filing with the SEC.

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

Shopify Trading Up 4.5 %

Shares of SHOP stock opened at $85.62 on Friday. The firm has a market cap of $110.48 billion, a P/E ratio of 87.36, a PEG ratio of 2.74 and a beta of 2.36. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The firm’s 50-day simple moving average is $77.90 and its 200-day simple moving average is $69.61.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The company’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) EPS. As a group, equities analysts forecast that Shopify Inc. will post 0.76 EPS for the current year.

Analyst Upgrades and Downgrades

SHOP has been the topic of a number of research analyst reports. Loop Capital boosted their price target on shares of Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Evercore lifted their price objective on shares of Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Bank of America upgraded shares of Shopify from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $78.00 to $82.00 in a report on Tuesday, July 16th. Royal Bank of Canada lifted their price objective on shares of Shopify from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Redburn Atlantic upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective for the company in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.03.

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.