Rockefeller Capital Management L.P. Sells 147,724 Shares of Shopify Inc. $SHOP

Rockefeller Capital Management L.P. decreased its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 991,988 shares of the software maker’s stock after selling 147,724 shares during the period. Rockefeller Capital Management L.P.’s holdings in Shopify were worth $159,680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SHOP. M&T Bank Corp raised its position in Shopify by 37.1% in the 4th quarter. M&T Bank Corp now owns 81,082 shares of the software maker’s stock worth $13,051,000 after purchasing an additional 21,945 shares during the last quarter. Triasima Portfolio Management inc. boosted its position in Shopify by 11.0% in the 4th quarter. Triasima Portfolio Management inc. now owns 182,338 shares of the software maker’s stock valued at $29,398,000 after buying an additional 18,028 shares during the last quarter. Assetmark Inc. increased its stake in shares of Shopify by 6.7% in the 4th quarter. Assetmark Inc. now owns 213,583 shares of the software maker’s stock valued at $34,380,000 after buying an additional 13,415 shares during the period. SG Americas Securities LLC increased its stake in shares of Shopify by 286.6% in the 4th quarter. SG Americas Securities LLC now owns 508,723 shares of the software maker’s stock valued at $81,889,000 after buying an additional 377,129 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Shopify by 12.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 526,114 shares of the software maker’s stock worth $84,689,000 after acquiring an additional 59,745 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

NASDAQ:SHOP opened at $108.85 on Friday. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19. The stock’s fifty day simple moving average is $113.17 and its 200-day simple moving average is $129.94. The firm has a market capitalization of $141.25 billion, a P/E ratio of 107.77, a P/E/G ratio of 3.05 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, beating 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 return on equity of 12.07% and a net margin of 10.77%. As a group, equities research analysts expect that Shopify Inc. will post 1.36 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on SHOP. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price target on shares of Shopify in a research note on Wednesday, May 6th. Piper Sandler reiterated an “overweight” rating and issued a $150.00 price objective (down from $165.00) on shares of Shopify in a research report on Tuesday, May 5th. Barclays set a $126.00 price objective on Shopify and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Royal Bank Of Canada restated an “outperform” rating and set a $170.00 target price on shares of Shopify in a research report on Wednesday, May 6th. Finally, Canaccord Genuity Group reduced their target price on shares of Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.