SG Americas Securities LLC Has $32.87 Million Stake in Shopify Inc. $SHOP

SG Americas Securities LLC reduced its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 45.5% in the first quarter, HoldingsChannel.com reports. The firm owned 277,078 shares of the software maker’s stock after selling 231,645 shares during the period. SG Americas Securities LLC’s holdings in Shopify were worth $32,867,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SHOP. M&T Bank Corp raised its position in Shopify by 37.1% in the fourth quarter. M&T Bank Corp now owns 81,082 shares of the software maker’s stock worth $13,051,000 after acquiring an additional 21,945 shares during the period. Triasima Portfolio Management inc. boosted its stake in shares of Shopify by 11.0% during the 4th quarter. Triasima Portfolio Management inc. now owns 182,338 shares of the software maker’s stock worth $29,398,000 after acquiring an additional 18,028 shares during the last quarter. Assetmark Inc. grew its position in shares of Shopify by 6.7% during the 4th quarter. Assetmark Inc. now owns 213,583 shares of the software maker’s stock valued at $34,380,000 after acquiring an additional 13,415 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Shopify by 12.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 526,114 shares of the software maker’s stock valued at $84,689,000 after acquiring an additional 59,745 shares during the period. Finally, Ossiam increased its stake in shares of Shopify by 181.1% in the 3rd quarter. Ossiam now owns 154,836 shares of the software maker’s stock worth $23,010,000 after purchasing an additional 99,755 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on SHOP. Citigroup reiterated a “market outperform” rating on shares of Shopify in a research report on Thursday, June 18th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $140.00 price objective (down from $150.00) on shares of Shopify in a research note on Tuesday, May 5th. Weiss Ratings cut Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Canaccord Genuity Group cut their price objective on Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, Citizens Jmp reduced their target price on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Shopify Trading Down 0.3%

Shares of Shopify stock opened at $107.68 on Wednesday. The stock has a 50 day moving average of $113.02 and a 200 day moving average of $129.09. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The firm has a market cap of $139.73 billion, a PE ratio of 106.61, a PEG ratio of 2.97 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. As a group, equities research analysts forecast that Shopify Inc. will post 1.39 earnings per share for the current fiscal 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.