Shopify Inc. $SHOP Shares Sold by Capital International Investors

Capital International Investors trimmed its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,612,671 shares of the software maker’s stock after selling 1,443,988 shares during the period. Shopify makes up approximately 0.9% of Capital International Investors’ investment portfolio, making the stock its 25th largest holding. Capital International Investors’ holdings in Shopify were worth $5,738,500,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in SHOP. Vanguard Group Inc. raised its position in Shopify by 1.2% in the third 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 in the last quarter. Jennison Associates LLC lifted its position in shares of Shopify by 64.3% in the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock valued at $2,812,211,000 after acquiring an additional 7,403,821 shares in the last quarter. Norges Bank acquired a new stake in Shopify during the 2nd quarter worth about $1,794,952,000. Loomis Sayles & Co. L P boosted its holdings in shares of Shopify by 1.3% during the second quarter. Loomis Sayles & Co. L P now owns 14,622,787 shares of the software maker’s stock worth $1,686,738,000 after purchasing an additional 191,824 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Shopify by 19.9% during 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 buying an additional 1,781,530 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on SHOP shares. Wedbush decreased their target price on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. Citizens Jmp lowered their target price on shares of Shopify from $200.00 to $160.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 12th. Wolfe Research upgraded shares of Shopify from a “hold” rating to an “outperform” rating in a report on Tuesday, January 6th. BNP Paribas Exane began coverage on Shopify in a research report on Monday, November 24th. They issued a “neutral” rating for the company. Finally, ATB Cormark Capital Markets raised Shopify from a “sector perform” rating to an “outperform” rating in a report on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.33.

Shopify Trading Up 2.5%

Shares of SHOP stock opened at $133.50 on Tuesday. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19. The firm’s 50 day moving average is $136.61 and its 200-day moving average is $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.

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.