Nomura Asset Management Co. Ltd. Buys 1,664 Shares of Shopify Inc. (NYSE:SHOP)

Nomura Asset Management Co. Ltd. increased its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,051 shares of the software maker’s stock after buying an additional 1,664 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Shopify were worth $6,068,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jennison Associates LLC bought a new position in shares of Shopify during the fourth quarter valued at $132,323,000. Watts Gwilliam & Co. LLC grew its position in Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after purchasing an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after purchasing an additional 77,500 shares in the last quarter. Wahed Invest LLC raised its holdings in Shopify by 18.4% in the third quarter. Wahed Invest LLC now owns 57,624 shares of the software maker’s stock worth $4,618,000 after buying an additional 8,960 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Shopify in the third quarter worth approximately $33,676,000. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a report on Tuesday, February 11th. Jefferies Financial Group upped their price target on Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday, February 18th. Barclays increased their price objective on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Monday, February 10th. Finally, CIBC raised their price target on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Performance

Shares of NYSE SHOP opened at $95.48 on Tuesday. The firm’s fifty day moving average is $110.06 and its two-hundred day moving average is $101.15. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The company has a market cap of $123.63 billion, a P/E ratio of 61.60, a P/E/G ratio of 4.82 and a beta of 2.60.

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

About Shopify

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.