Capital International Sarl Sells 14,835 Shares of Shopify Inc. $SHOP

Capital International Sarl lessened its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 2.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 636,485 shares of the software maker’s stock after selling 14,835 shares during the quarter. Shopify makes up about 1.6% of Capital International Sarl’s investment portfolio, making the stock its 13th largest position. Capital International Sarl’s holdings in Shopify were worth $94,588,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Heartwood Wealth Advisors LLC purchased a new stake in Shopify in the 3rd quarter worth $27,000. Rothschild Investment LLC lifted its position in shares of Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after buying an additional 75 shares in the last quarter. Financial Gravity Companies Inc. purchased a new position in Shopify during the 2nd quarter valued at approximately $27,000. Caitlin John LLC bought a new stake in Shopify in the 3rd quarter worth approximately $36,000. Finally, Estabrook Capital Management purchased a new stake in shares of Shopify during the 2nd quarter worth approximately $29,000. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $133.50 on Tuesday. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19. The stock has a 50 day moving average price of $136.61 and a 200 day moving average price of $149.12. The firm has a market capitalization of $173.80 billion, a price-to-earnings ratio of 143.55, a PEG ratio of 4.67 and a beta of 2.83.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SHOP. BNP Paribas Exane initiated coverage on shares of Shopify in a report on Monday, November 24th. They issued a “neutral” rating for the company. Citizens Jmp reduced their target price on shares of Shopify from $200.00 to $160.00 and set a “market outperform” rating on the stock in a report on Thursday, February 12th. Phillip Securities raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $175.00 target price on shares of Shopify in a report on Thursday, February 12th. Finally, Raymond James Financial restated a “market perform” rating on shares of Shopify in a research report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $163.33.

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.