Shopify Inc. $SHOP Shares Sold by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA lowered its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 17.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 230,457 shares of the software maker’s stock after selling 48,210 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Shopify were worth $27,337,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of SHOP. Vanguard Group Inc. raised its holdings in Shopify by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after acquiring an additional 743,803 shares during the last quarter. Norges Bank acquired a new stake in shares of Shopify during the fourth quarter worth $2,611,797,000. Invesco Ltd. boosted its holdings in shares of Shopify by 9.8% during the fourth quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock worth $2,257,796,000 after purchasing an additional 1,252,074 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Shopify by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock valued at $2,043,365,000 after purchasing an additional 737,892 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Shopify by 9.1% in the fourth quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock valued at $1,627,352,000 after purchasing an additional 827,643 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

SHOP has been the topic of several recent analyst reports. Citigroup reiterated a “market outperform” rating on shares of Shopify in a report on Thursday, June 18th. Wells Fargo & Company dropped their price target on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. UBS Group reaffirmed a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. BMO Capital Markets lowered their price objective on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Finally, Piper Sandler restated an “overweight” rating and set a $150.00 price objective (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.17.

Shopify Stock Performance

Shares of Shopify stock opened at $116.86 on Friday. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The firm’s 50-day simple moving average is $112.68 and its 200-day simple moving average is $128.33. The firm has a market cap of $151.64 billion, a PE ratio of 115.70, a price-to-earnings-growth ratio of 3.07 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. On average, equities analysts predict that Shopify Inc. will post 1.39 earnings per share for the current year.

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.