Sustainable Growth Advisers LP Sells 30,191 Shares of Shopify Inc. $SHOP

Sustainable Growth Advisers LP cut its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 33.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 60,651 shares of the software maker’s stock after selling 30,191 shares during the period. Sustainable Growth Advisers LP’s holdings in Shopify were worth $9,763,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SHOP. Brighton Jones LLC raised its position in Shopify by 2.8% in the fourth 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 last quarter. AQR Capital Management LLC raised its position in Shopify by 107.3% in the first 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 last quarter. Sivia Capital Partners LLC raised its position in Shopify by 6.6% in the second 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 last quarter. Osterweis Capital Management Inc. bought a new position in Shopify in the second quarter valued at about $53,000. Finally, Main Street Financial Solutions LLC raised its position in Shopify by 15.3% in the second 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 last quarter. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Arete Research set a $175.00 target price on Shopify in a research report on Monday, February 2nd. Canaccord Genuity Group dropped their target price on Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Phillip Securities upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $170.00 target price on shares of Shopify in a research report on Wednesday, May 6th. Finally, DA Davidson dropped their target price on Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Trading Up 4.6%

Shares of SHOP stock opened at $124.12 on Tuesday. The stock has a market cap of $161.06 billion, a price-to-earnings ratio of 122.89, a PEG ratio of 3.33 and a beta of 2.64. The stock has a 50-day moving average of $114.75 and a 200-day moving average of $133.64. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, beating the consensus estimate 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%. Sell-side 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.