Robeco Institutional Asset Management B.V. Has $16.88 Million Stake in Shopify Inc. (NYSE:SHOP)

Robeco Institutional Asset Management B.V. increased its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 210,668 shares of the software maker’s stock after purchasing an additional 3,035 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Shopify were worth $16,883,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SHOP. Norden Group LLC acquired a new stake in shares of Shopify in the first quarter valued at approximately $213,000. Mediolanum International Funds Ltd acquired a new position in Shopify in the 1st quarter valued at $1,073,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Shopify by 1.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 26,259 shares of the software maker’s stock valued at $2,026,000 after acquiring an additional 405 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Shopify during the 1st quarter worth $2,741,000. Finally, Empowered Funds LLC increased its position in shares of Shopify by 15.4% in the first quarter. Empowered Funds LLC now owns 12,708 shares of the software maker’s stock worth $981,000 after purchasing an additional 1,694 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SHOP shares. Barclays upped their price objective on shares of Shopify from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Roth Mkm increased their price target on shares of Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Robert W. Baird boosted their price objective on shares of Shopify from $79.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Truist Financial reduced their target price on Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Finally, Benchmark reiterated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.03.

Shopify Stock Performance

Shares of SHOP opened at $81.92 on Thursday. Shopify Inc. has a one year low of $48.56 and a one year high of $91.57. The company has a market cap of $105.71 billion, a PE ratio of 83.59, a P/E/G ratio of 2.62 and a beta of 2.36. The stock has a 50-day moving average of $77.90 and a 200-day moving average of $69.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the firm posted ($0.08) earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities research analysts predict that Shopify Inc. will post 0.76 EPS 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.