Shopify Inc. (NYSE:SHOP) Holdings Trimmed by Nvwm LLC

Key Points

• Nvwm LLC reduced its stake in Shopify Inc. by 32.9%, selling 5,611 shares during the first quarter, leaving it with a total of 11,448 shares valued at approximately $1,093,000.
• Institutional investors collectively own 69.27% of Shopify's stock, with significant holdings being reported from companies like Capital World Investors and Arrowstreet Capital, indicating strong institutional interest in the company.
• Wall Street analysts have varied opinions on Shopify, with a consensus rating of "Moderate Buy" and a price target averaging around $119.16, reflecting mixed investor sentiment.

Nvwm LLC lowered its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 32.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,448 shares of the software maker's stock after selling 5,611 shares during the period. Nvwm LLC's holdings in Shopify were worth $1,093,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Allianz SE acquired a new stake in shares of Shopify in the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC acquired a new stake in Shopify during the 4th quarter valued at $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in Shopify during the 4th quarter valued at $46,000. FWL Investment Management LLC acquired a new stake in Shopify during the 4th quarter valued at $56,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Shopify during the 4th quarter valued at $60,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Price Performance

NYSE SHOP traded up $0.36 on Wednesday, hitting $125.21. 1,870,822 shares of the stock were exchanged, compared to its average volume of 10,344,681. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The company has a market capitalization of $162.45 billion, a price-to-earnings ratio of 80.68, a P/E/G ratio of 4.82 and a beta of 2.61. The company's 50-day moving average price is $112.77 and its two-hundred day moving average price is $106.18.

Analysts Set New Price Targets

SHOP has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their target price on Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. CIBC increased their target price on Shopify from $125.00 to $145.00 and gave the company an "outperformer" rating in a report on Friday, July 18th. Wedbush reiterated an "outperform" rating and set a $110.00 target price on shares of Shopify in a report on Tuesday, April 15th. Arete Research upgraded Shopify to a "hold" rating in a report on Wednesday, July 23rd. Finally, Capital One Financial upgraded Shopify from an "equal weight" rating to an "overweight" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Shopify has a consensus rating of "Moderate Buy" and an average price target of $120.34.

About Shopify

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.