Shopify Inc. $SHOP Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 14.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,215,033 shares of the software maker’s stock after selling 210,765 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.09% of Shopify worth $195,584,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SHOP. Brighton Jones LLC boosted its stake in Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after purchasing an additional 584 shares during the period. AQR Capital Management LLC boosted 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 valued at $1,392,000 after purchasing an additional 7,544 shares during the period. Sivia Capital Partners LLC boosted 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 valued at $945,000 after purchasing an additional 506 shares during the period. Osterweis Capital Management Inc. acquired a new position in Shopify during the 2nd quarter valued at about $53,000. Finally, Main Street Financial Solutions LLC boosted its stake in Shopify by 15.3% during the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock valued at $1,284,000 after purchasing an additional 1,479 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

NASDAQ SHOP opened at $108.24 on Friday. The company’s 50 day simple moving average is $113.99 and its 200 day simple moving average is $131.61. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The company has a market capitalization of $140.46 billion, a P/E ratio of 107.17, a PEG ratio of 3.03 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its 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. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. On average, analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of analyst reports. BMO Capital Markets reduced their target price on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Robert W. Baird set a $150.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Wells Fargo & Company reduced their target price on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $140.00 price target (down from $150.00) on shares of Shopify in a research note on Tuesday, May 5th. Finally, National Bank Financial reduced their price target on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify 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.