Rathbones Group PLC Sells 99,224 Shares of Shopify Inc. $SHOP

Key Points

• Rathbones Group PLC trimmed its stake in Shopify by 6.3% in Q3, selling 99,224 shares and leaving it with 1,478,608 shares valued at about $219.74 million.
• The analyst consensus is a Moderate Buy with an average target price of $162.64, though recent targets range roughly $115–$159; Shopify trades around $130.20 with a market cap of $169.5 billion.

Rathbones Group PLC trimmed its stake in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 6.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,478,608 shares of the software maker's stock after selling 99,224 shares during the period. Rathbones Group PLC owned 0.11% of Shopify worth $219,736,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Heartwood Wealth Advisors LLC bought a new stake in Shopify during the third quarter valued at about $27,000. Rothschild Investment LLC increased its position in Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker's stock worth $27,000 after buying an additional 75 shares in the last quarter. Financial Gravity Companies Inc. bought a new position in shares of Shopify in the second quarter worth about $27,000. Caitlin John LLC purchased a new position in shares of Shopify during the 3rd quarter valued at about $36,000. Finally, Estabrook Capital Management purchased a new position in shares of Shopify during the 2nd quarter valued at about $29,000. 69.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SHOP shares. Benchmark cut their price objective on Shopify from $195.00 to $145.00 and set a "buy" rating for the company in a research note on Tuesday, February 10th. BNP Paribas Exane started coverage on shares of Shopify in a report on Monday, November 24th. They set a "neutral" rating on the stock. Barclays set a $130.00 price target on shares of Shopify and gave the stock an "equal weight" rating in a research report on Thursday, February 12th. Stifel Nicolaus set a $115.00 price objective on shares of Shopify and gave the stock a "hold" rating in a research note on Wednesday, February 11th. Finally, TD Cowen upgraded shares of Shopify from a "hold" rating to a "buy" rating and set a $159.00 price objective on the stock in a research report on Wednesday, February 11th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $162.64.

Shopify Price Performance

Shares of SHOP opened at $130.20 on Friday. The firm has a market cap of $169.50 billion, a P/E ratio of 140.00, a price-to-earnings-growth ratio of 4.74 and a beta of 2.83. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19. The company has a 50 day simple moving average of $137.30 and a two-hundred day simple moving average of $149.06.

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.

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