Shopify Inc. $SHOP Shares Sold by Strategy Capital LLC

Strategy Capital LLC trimmed its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,825,243 shares of the software maker’s stock after selling 4,674 shares during the period. Shopify makes up about 17.9% of Strategy Capital LLC’s holdings, making the stock its 2nd biggest position. Strategy Capital LLC’s holdings in Shopify were worth $271,249,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Shopify by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 49,926,824 shares of the software maker’s stock worth $7,417,517,000 after acquiring an additional 610,129 shares during the period. Jennison Associates LLC raised its holdings in Shopify by 64.3% during the third quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock worth $2,812,211,000 after purchasing an additional 7,403,821 shares in the last quarter. Norges Bank purchased a new position in Shopify during the second quarter worth about $1,794,952,000. Loomis Sayles & Co. L P lifted its position in Shopify by 1.3% in the second quarter. Loomis Sayles & Co. L P now owns 14,622,787 shares of the software maker’s stock valued at $1,686,738,000 after purchasing an additional 191,824 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Shopify by 19.9% in the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock valued at $1,247,007,000 after purchasing an additional 1,781,530 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent analyst reports. KeyCorp reiterated an “overweight” rating and set a $160.00 target price on shares of Shopify in a research report on Wednesday, February 11th. DZ Bank upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Scotiabank raised Shopify from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $165.00 to $200.00 in a report on Thursday, January 8th. Citigroup reiterated a “buy” rating and issued a $172.00 price objective (down from $195.00) on shares of Shopify in a research report on Friday, February 13th. Finally, TD Cowen upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.64.

Shopify Price Performance

NASDAQ SHOP opened at $130.20 on Monday. The business has a 50 day moving average price of $137.30 and a 200 day moving average price of $149.14. The company has a market capitalization of $169.50 billion, a P/E ratio of 140.00, a PEG ratio of 4.67 and a beta of 2.83. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $182.19.

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.