American Century Companies Inc. lowered its position in Shopify Inc. (NYSE:SHOP) (TSE:SH) by 16.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,303 shares of the software maker’s stock after selling 42,854 shares during the period. American Century Companies Inc. owned about 0.22% of Shopify worth $18,536,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of SHOP. Shell Asset Management Co. raised its stake in Shopify by 54.9% in the first quarter. Shell Asset Management Co. now owns 7,738 shares of the software maker’s stock worth $702,000 after buying an additional 2,744 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Shopify by 81.5% in the first quarter. Russell Investments Group Ltd. now owns 85,786 shares of the software maker’s stock worth $5,840,000 after buying an additional 38,522 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Shopify by 223.0% in the first quarter. Great West Life Assurance Co. Can now owns 22,595 shares of the software maker’s stock worth $1,537,000 after buying an additional 15,600 shares during the last quarter. Comerica Bank acquired a new stake in Shopify during the first quarter worth $327,000. Finally, Swiss National Bank raised its stake in Shopify by 10.4% in the first quarter. Swiss National Bank now owns 107,300 shares of the software maker’s stock worth $7,319,000 after buying an additional 10,100 shares during the last quarter. 53.78% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Inc. (SHOP) opened at 110.86 on Friday. Shopify Inc. has a 52-week low of $37.74 and a 52-week high of $112.00. The company’s 50-day moving average is $96.81 and its 200 day moving average is $83.19. The company’s market cap is $10.93 billion.

Shopify (NYSE:SHOP) (TSE:SH) last issued its earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.05. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. The business had revenue of $151.70 million during the quarter, compared to analyst estimates of $143.94 million. During the same quarter in the previous year, the firm earned ($0.04) EPS. Shopify’s revenue was up 75.2% on a year-over-year basis. Equities analysts forecast that Shopify Inc. will post ($0.05) earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This news story was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of United States and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2017/09/03/american-century-companies-inc-cuts-stake-in-shopify-inc-shop.html.

A number of equities research analysts have weighed in on SHOP shares. Vetr lowered shares of Shopify from a “sell” rating to a “strong sell” rating and set a $73.40 target price on the stock. in a report on Monday, May 8th. Credit Suisse Group boosted their target price on shares of Shopify from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, May 9th. Roth Capital boosted their target price on shares of Shopify from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Robert W. Baird reissued an “outperform” rating and set a $95.00 target price on shares of Shopify in a report on Monday, May 15th. Finally, CSFB reissued an “outperform” rating and set a $128.00 target price on shares of Shopify in a report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Shopify has a consensus rating of “Buy” and an average target price of $90.93.

About Shopify

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

Receive News & Stock Ratings for Shopify Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify Inc. and related stocks with our FREE daily email newsletter.