Sands Capital Management LLC Has $1.03 Billion Position in Shopify Inc. $SHOP

Sands Capital Management LLC cut its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,937,271 shares of the software maker’s stock after selling 555,344 shares during the quarter. Shopify makes up about 2.8% of Sands Capital Management LLC’s portfolio, making the stock its 13th largest position. Sands Capital Management LLC’s holdings in Shopify were worth $1,030,948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of SHOP. Brighton Jones LLC grew its stake in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after buying an additional 584 shares during the period. AQR Capital Management LLC raised its stake in Shopify by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after buying an additional 7,544 shares during the period. Sivia Capital Partners LLC raised its stake in Shopify by 6.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after buying an additional 506 shares during the period. RWA Wealth Partners LLC boosted its holdings in Shopify by 3.6% in the second quarter. RWA Wealth Partners LLC now owns 3,698 shares of the software maker’s stock worth $427,000 after acquiring an additional 130 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its holdings in Shopify by 30.7% in the second quarter. Prospera Financial Services Inc now owns 24,075 shares of the software maker’s stock worth $2,777,000 after acquiring an additional 5,655 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SHOP shares. Canaccord Genuity Group set a $165.00 price objective on Shopify and gave the company a “buy” rating in a report on Thursday, February 12th. DZ Bank upgraded Shopify from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. BNP Paribas Exane initiated coverage on shares of Shopify in a research report on Monday, November 24th. They issued a “neutral” rating for the company. Wedbush decreased their price target on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, February 12th. Finally, Moffett Nathanson upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.33.

Shopify Stock Down 3.1%

Shares of Shopify stock opened at $129.36 on Wednesday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The business has a 50 day moving average price of $135.92 and a 200-day moving average price of $149.03. The company has a market cap of $168.41 billion, a PE ratio of 139.10, a price-to-earnings-growth ratio of 4.79 and a beta of 2.83.

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.