Nepsis Inc. Sells 22,919 Shares of Shopify Inc. $SHOP

Key Points

• Nepsis Inc. sold 22,919 shares of Shopify, trimming its stake by 18.8% to 99,075 shares worth about $15.95 million, representing roughly 4.9% of Nepsis’s holdings and its ninth-largest position.
• Institutional ownership remains high at 69.27%, with major investors such as Vanguard, Jennison and Norges Bank recently adding to or initiating large positions, signaling continued institutional interest.
• Wall Street’s consensus is a "Moderate Buy" with an average target of $163.38, while Shopify traded near $111.85 and carries a high P/E of 120.27, highlighting analyst optimism versus current valuation.

Nepsis Inc. lowered its stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 18.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 99,075 shares of the software maker's stock after selling 22,919 shares during the quarter. Shopify makes up approximately 4.9% of Nepsis Inc.'s holdings, making the stock its 9th biggest holding. Nepsis Inc.'s holdings in Shopify were worth $15,948,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Shopify by 1.2% during the third quarter. Vanguard Group Inc. now owns 49,926,824 shares of the software maker's stock valued at $7,417,517,000 after purchasing an additional 610,129 shares during the last quarter. Jennison Associates LLC raised its position in Shopify by 64.3% in the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker's stock worth $2,812,211,000 after purchasing an additional 7,403,821 shares during the last quarter. Norges Bank acquired a new position in Shopify during the 2nd quarter worth $1,794,952,000. Loomis Sayles & Co. L P lifted its holdings in Shopify by 1.3% during the 2nd quarter. Loomis Sayles & Co. L P now owns 14,622,787 shares of the software maker's stock worth $1,686,738,000 after buying an additional 191,824 shares in the last quarter. Finally, Edgewood Management LLC boosted its position in Shopify by 10.5% in the 2nd quarter. Edgewood Management LLC now owns 9,558,067 shares of the software maker's stock valued at $1,102,523,000 after buying an additional 911,908 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Stock Performance

SHOP opened at $111.85 on Friday. The firm's fifty day moving average is $125.10 and its two-hundred day moving average is $147.07. The firm has a market cap of $145.86 billion, a PE ratio of 120.27, a price-to-earnings-growth ratio of 4.09 and a beta of 2.83. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SHOP shares. Evercore set a $135.00 target price on Shopify in a research report on Wednesday, February 11th. BMO Capital Markets set a $160.00 price target on Shopify in a report on Thursday, February 12th. Royal Bank Of Canada set a $170.00 price objective on Shopify and gave the stock an "outperform" rating in a research report on Thursday, February 12th. Wedbush dropped their price objective on Shopify from $185.00 to $160.00 and set an "outperform" rating for the company in a report on Thursday, February 12th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $175.00 target price on shares of Shopify in a research report on Thursday, February 12th. Three 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $163.38.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.