Shopify Inc. $SHOP Shares Sold by Capital World Investors

Capital World Investors trimmed its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 10.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 47,822,705 shares of the software maker’s stock after selling 5,789,891 shares during the period. Shopify accounts for about 1.0% of Capital World Investors’ portfolio, making the stock its 18th largest position. Capital World Investors’ holdings in Shopify were worth $7,698,323,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings 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 worth $2,252,000 after acquiring an additional 584 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Shopify by 107.3% in the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after acquiring an additional 7,544 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Shopify by 6.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after acquiring an additional 506 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Shopify in the 2nd quarter worth approximately $53,000. Finally, Main Street Financial Solutions LLC lifted its holdings in shares of Shopify by 15.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock worth $1,284,000 after acquiring an additional 1,479 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SHOP. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $175.00 price objective on shares of Shopify in a report on Thursday, February 12th. Phillip Securities upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Barclays set a $126.00 price objective on shares of Shopify and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. DA Davidson decreased their price objective on shares of Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $180.00 price objective on shares of Shopify in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Shopify Stock Down 5.6%

Shares of SHOP opened at $109.54 on Friday. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The firm’s 50 day moving average price is $114.55 and its 200 day moving average price is $132.80. The company has a market cap of $142.15 billion, a P/E ratio of 108.46, a PEG ratio of 3.07 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping the consensus estimate of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. Research analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current year.

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.