Shopify Inc. $SHOP Stake Boosted by Sands Capital Management LLC

Sands Capital Management LLC grew its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 37.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,506,036 shares of the software maker’s stock after purchasing an additional 2,568,765 shares during the period. Shopify accounts for about 4.7% of Sands Capital Management LLC’s portfolio, making the stock its 5th biggest position. Sands Capital Management LLC’s holdings in Shopify were worth $1,530,187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its holdings in Shopify by 37.1% in the fourth quarter. M&T Bank Corp now owns 81,082 shares of the software maker’s stock valued at $13,051,000 after purchasing an additional 21,945 shares during the last quarter. Triasima Portfolio Management inc. boosted its holdings in Shopify by 11.0% in the fourth quarter. Triasima Portfolio Management inc. now owns 182,338 shares of the software maker’s stock valued at $29,398,000 after purchasing an additional 18,028 shares during the last quarter. Assetmark Inc. boosted its holdings in Shopify by 6.7% in the fourth quarter. Assetmark Inc. now owns 213,583 shares of the software maker’s stock valued at $34,380,000 after purchasing an additional 13,415 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Shopify by 286.6% in the fourth quarter. SG Americas Securities LLC now owns 508,723 shares of the software maker’s stock valued at $81,889,000 after purchasing an additional 377,129 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Shopify by 12.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 526,114 shares of the software maker’s stock valued at $84,689,000 after purchasing an additional 59,745 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SHOP. Canaccord Genuity Group lowered their price target on shares of Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. DA Davidson lowered their price target 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. Wells Fargo & Company lowered their price target on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $180.00 price target on shares of Shopify in a report on Tuesday, May 5th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Shopify in a report on Thursday, May 28th. Two investment 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 company. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average price target of $157.17.

Shopify Stock Performance

Shares of Shopify stock opened at $108.24 on Monday. The firm has a 50-day simple moving average of $113.99 and a two-hundred day simple moving average of $131.44. The company has a market cap of $140.46 billion, a P/E ratio of 107.17, a price-to-earnings-growth ratio of 3.03 and a beta of 2.60. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19.

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