Shopify Inc. $SHOP Shares Sold by Marcho Partners LLP

Marcho Partners LLP reduced its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 33.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 112,717 shares of the software maker’s stock after selling 56,844 shares during the quarter. Shopify comprises approximately 11.0% of Marcho Partners LLP’s portfolio, making the stock its 6th biggest holding. Marcho Partners LLP’s holdings in Shopify were worth $18,144,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SHOP. Norges Bank acquired a new stake in Shopify during the 4th quarter worth approximately $2,611,797,000. Thrivent Financial for Lutherans raised its holdings in Shopify by 7,207.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock valued at $184,883,000 after acquiring an additional 1,132,545 shares in the last quarter. Select Equity Group L.P. raised its holdings in Shopify by 92.5% in the 2nd quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock valued at $259,124,000 after acquiring an additional 1,079,494 shares in the last quarter. Steadfast Capital Management LP acquired a new position in Shopify in the 3rd quarter valued at $140,930,000. Finally, Vanguard Group Inc. raised its holdings in Shopify by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after acquiring an additional 743,803 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SHOP. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Shopify in a report on Wednesday, May 6th. DA Davidson dropped their price objective on Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Shopify in a report on Tuesday, May 5th. National Bank Financial dropped their price objective on Shopify from $200.00 to $155.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Finally, Citigroup dropped their price objective on Shopify from $163.00 to $156.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Stock Performance

Shopify stock opened at $108.24 on Friday. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The stock has a market capitalization of $140.46 billion, a P/E ratio of 107.17, a price-to-earnings-growth ratio of 3.10 and a beta of 2.60. The stock has a fifty day moving average of $113.99 and a 200-day moving average of $131.61.

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

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.