Shopify Inc. $SHOP Shares Sold by Rheos Capital Works Inc.

Rheos Capital Works Inc. decreased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 26.6% in the 4th quarter, Holdings Channel reports. The fund owned 138,000 shares of the software maker’s stock after selling 50,000 shares during the period. Shopify accounts for 1.4% of Rheos Capital Works Inc.’s holdings, making the stock its 25th biggest holding. Rheos Capital Works Inc.’s holdings in Shopify were worth $22,214,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SHOP. Jennison Associates LLC grew its position in Shopify by 64.3% in the third quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock valued at $2,812,211,000 after acquiring an additional 7,403,821 shares in the last quarter. Foxhaven Asset Management LP acquired a new stake in shares of Shopify during the second quarter worth approximately $156,044,000. Select Equity Group L.P. grew its position in shares of Shopify by 92.5% during the second quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock worth $259,124,000 after buying an additional 1,079,494 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Shopify by 21.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,536,825 shares of the software maker’s stock worth $822,828,000 after buying an additional 973,132 shares in the last quarter. Finally, Steadfast Capital Management LP acquired a new stake in shares of Shopify during the third quarter worth approximately $140,930,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on SHOP shares. BMO Capital Markets set a $160.00 price target on shares of Shopify in a research report on Thursday, February 12th. Wells Fargo & Company decreased their price target on shares of Shopify from $191.00 to $166.00 and set an “overweight” rating for the company in a research report on Monday. Phillip Securities raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Arete Research set a $175.00 price target on shares of Shopify in a research report on Monday, February 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Shopify in a research report on Friday, March 27th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.70.

Shopify Price Performance

Shopify stock opened at $118.80 on Tuesday. The company has a market cap of $154.93 billion, a PE ratio of 127.74, a P/E/G ratio of 4.24 and a beta of 2.82. The company has a fifty day moving average price of $122.17 and a two-hundred day moving average price of $145.87. Shopify Inc. has a 12 month low of $69.99 and a 12 month high of $182.19.

About Shopify

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.