Gavilan Investment Partners LLC lowered its stake in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 17.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,000 shares of the software maker's stock after selling 71,000 shares during the period. Shopify comprises 9.7% of Gavilan Investment Partners LLC's investment portfolio, making the stock its 3rd biggest position. Gavilan Investment Partners LLC's holdings in Shopify were worth $35,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Shopify in the fourth quarter valued at $1,542,262,000. Arrowstreet Capital Limited Partnership raised its position in shares of Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock worth $1,752,834,000 after acquiring an additional 7,316,862 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Shopify by 631.3% during the fourth quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker's stock worth $474,187,000 after purchasing an additional 3,849,796 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Shopify by 30.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker's stock worth $754,201,000 after purchasing an additional 1,647,374 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Shopify by 30.2% in the fourth quarter. Geode Capital Management LLC now owns 7,015,582 shares of the software maker's stock valued at $748,799,000 after purchasing an additional 1,627,776 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.
Shopify Trading Down 3.1 %
Shares of NYSE:SHOP traded down $2.60 during trading on Friday, hitting $82.03. 11,669,278 shares of the stock were exchanged, compared to its average volume of 9,215,546. The company has a market cap of $106.21 billion, a PE ratio of 52.97, a P/E/G ratio of 4.82 and a beta of 2.82. The company has a fifty day moving average price of $104.84 and a two-hundred day moving average price of $101.45. Shopify Inc. has a 12-month low of $48.56 and a 12-month high of $129.38.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS 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%. Equities research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
SHOP has been the topic of a number of research analyst reports. Truist Financial raised their price objective on shares of Shopify from $110.00 to $120.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Scotiabank boosted their price target on shares of Shopify from $115.00 to $120.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. ATB Capital raised their price objective on Shopify from $145.00 to $170.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. Wells Fargo & Company lifted their target price on Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Finally, UBS Group raised their price target on Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $126.31.
View Our Latest Stock Report on SHOP
About Shopify
(
Free Report)
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.
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