Nepsis Inc. Has $16.78 Million Stake in Shopify Inc. (NYSE:SHOP)

Nepsis Inc. grew its position in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 96.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,706 shares of the software maker's stock after buying an additional 86,262 shares during the quarter. Shopify makes up about 4.1% of Nepsis Inc.'s investment portfolio, making the stock its 13th biggest position. Nepsis Inc.'s holdings in Shopify were worth $16,776,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Capital World Investors lifted its holdings in Shopify by 0.9% during the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock worth $5,646,455,000 after buying an additional 496,982 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Shopify by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock worth $5,010,721,000 after buying an additional 781,162 shares during the period. FMR LLC raised its stake in shares of Shopify by 3.4% during the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock worth $4,653,054,000 after buying an additional 1,426,000 shares during the last quarter. Capital International Investors lifted its holdings in Shopify by 2.7% in the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock valued at $3,883,039,000 after buying an additional 968,026 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Shopify by 79.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock valued at $1,752,834,000 after acquiring an additional 7,316,862 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Trading Down 4.3%

NYSE SHOP traded down $4.92 during trading on Thursday, reaching $109.21. The company's stock had a trading volume of 8,566,773 shares, compared to its average volume of 9,405,502. The firm has a 50 day moving average price of $97.46 and a 200 day moving average price of $105.15. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38. The firm has a market capitalization of $141.41 billion, a price-to-earnings ratio of 70.46, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SHOP. Oppenheimer cut their price target on Shopify from $150.00 to $125.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $91.00 price target on shares of Shopify in a research report on Wednesday. Evercore ISI upped their target price on shares of Shopify from $125.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Canaccord Genuity Group lifted their price target on Shopify from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group reduced their price objective on Shopify from $130.00 to $110.00 and set a "hold" rating for the company in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $115.39.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.