Baillie Gifford & Co. Sells 3,589,796 Shares of Shopify Inc. (NYSE:SHOP)

Baillie Gifford & Co. trimmed its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,776,512 shares of the software maker's stock after selling 3,589,796 shares during the period. Shopify makes up approximately 4.9% of Baillie Gifford & Co.'s holdings, making the stock its 4th biggest holding. Baillie Gifford & Co. owned 4.63% of Shopify worth $6,356,037,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SHOP. Sierra Ocean LLC acquired a new stake in Shopify during the 4th quarter worth $46,000. JFS Wealth Advisors LLC raised its stake in Shopify by 18.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,252 shares of the software maker's stock worth $133,000 after buying an additional 195 shares during the period. Csenge Advisory Group raised its stake in Shopify by 81.4% during the 4th quarter. Csenge Advisory Group now owns 7,526 shares of the software maker's stock worth $800,000 after buying an additional 3,377 shares during the period. Tcfg Wealth Management LLC raised its stake in Shopify by 7.5% during the 4th quarter. Tcfg Wealth Management LLC now owns 3,855 shares of the software maker's stock worth $410,000 after buying an additional 270 shares during the period. Finally, Allworth Financial LP raised its stake in Shopify by 16.6% during the 4th quarter. Allworth Financial LP now owns 15,003 shares of the software maker's stock worth $1,596,000 after buying an additional 2,134 shares during the period. Institutional investors own 69.27% of the company's stock.

Shopify Stock Down 1.4 %

Shopify stock traded down $1.78 during trading hours on Wednesday, reaching $127.53. 5,574,951 shares of the company's stock were exchanged, compared to its average volume of 7,924,819. The firm's 50 day simple moving average is $112.48 and its 200 day simple moving average is $94.23. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38. The firm has a market capitalization of $164.78 billion, a PE ratio of 82.35, a PEG ratio of 5.06 and a beta of 2.47.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Analysts anticipate that Shopify Inc. will post 1.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SHOP. New Street Research began coverage on shares of Shopify in a research note on Friday, January 10th. They issued a "neutral" rating and a $115.00 price target on the stock. Mizuho lifted their price target on shares of Shopify from $68.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, November 13th. Scotiabank lifted their price target on shares of Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. TD Securities lifted their price target on shares of Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. Finally, Truist Financial lifted their price target on shares of Shopify from $110.00 to $120.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $126.31.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.