Napean Trading & Investment Co Singapore PTE Ltd Has $8.54 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Napean Trading & Investment Co Singapore PTE Ltd raised its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 32.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 129,354 shares of the software maker’s stock after purchasing an additional 31,660 shares during the period. Shopify accounts for 2.0% of Napean Trading & Investment Co Singapore PTE Ltd’s holdings, making the stock its 19th biggest holding. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Shopify were worth $8,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Wealth Management Group LLC bought a new position in shares of Shopify in the fourth quarter valued at $26,000. DSM Capital Partners LLC acquired a new stake in shares of Shopify in the 4th quarter worth about $28,000. Jones Financial Companies Lllp bought a new position in Shopify in the 4th quarter valued at about $28,000. Your Advocates Ltd. LLP boosted its stake in Shopify by 4,344.4% during the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after purchasing an additional 391 shares during the last quarter. Finally, Cultivar Capital Inc. bought a new stake in Shopify during the 2nd quarter worth approximately $33,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of NYSE SHOP opened at $67.01 on Friday. The stock’s 50-day moving average is $66.99 and its 200 day moving average is $68.56. The stock has a market cap of $86.35 billion, a price-to-earnings ratio of -394.18, a P/E/G ratio of 2.35 and a beta of 2.35. Shopify Inc. has a 1-year low of $45.50 and a 1-year high of $91.57. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. During the same period last year, the firm posted ($0.08) earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SHOP. Wolfe Research started coverage on Shopify in a report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 target price on the stock. Loop Capital raised their price objective on Shopify from $68.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, August 16th. JMP Securities reiterated a “market outperform” rating and issued a $80.00 target price on shares of Shopify in a research note on Thursday, August 8th. KeyCorp initiated coverage on shares of Shopify in a research report on Thursday, July 25th. They set an “overweight” rating and a $80.00 price target on the stock. Finally, Argus raised shares of Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.11.

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.