Lbp Am Sa Sells 47,525 Shares of Shopify Inc. $SHOP

Lbp Am Sa reduced its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 32.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,268 shares of the software maker’s stock after selling 47,525 shares during the quarter. Lbp Am Sa’s holdings in Shopify were worth $14,901,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC raised its stake in shares of Shopify by 1.7% in the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock valued at $512,000 after purchasing an additional 59 shares during the period. Accurate Wealth Management LLC grew its holdings in shares of Shopify by 2.0% during the third quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock worth $526,000 after buying an additional 67 shares in the last quarter. Rothschild Investment LLC raised its position in Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Sivia Capital Partners LLC raised its position in Shopify by 0.9% in the 3rd quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock valued at $1,228,000 after buying an additional 75 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Shopify by 13.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock valued at $72,000 after acquiring an additional 77 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Trading Up 0.2%

SHOP stock opened at $137.89 on Monday. The business’s 50 day simple moving average is $159.00 and its 200 day simple moving average is $150.76. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19. The firm has a market capitalization of $179.51 billion, a PE ratio of 102.14, a PEG ratio of 4.08 and a beta of 2.83.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. As a group, sell-side analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

SHOP has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on shares of Shopify from $179.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $198.00 target price (up previously from $125.00) on shares of Shopify in a research report on Wednesday, December 17th. Oppenheimer reissued an “outperform” rating on shares of Shopify in a research report on Monday, December 1st. Canaccord Genuity Group raised their price objective on Shopify from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $180.00 target price on shares of Shopify in a research report on Wednesday, November 5th. Twenty-four investment analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $171.61.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.