Yousif Capital Management LLC lowered its position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 26.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,899 shares of the software maker's stock after selling 4,900 shares during the quarter. Yousif Capital Management LLC's holdings in Shopify were worth $1,327,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in Shopify by 0.9% in 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. lifted its holdings in Shopify by 1.7% in 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 in the last quarter. FMR LLC lifted its holdings in Shopify by 3.4% in the 4th 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 in the last quarter. Capital International Investors lifted its holdings in Shopify by 2.7% in the 4th quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock worth $3,883,039,000 after buying an additional 968,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock worth $1,752,834,000 after buying an additional 7,316,862 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.
Shopify Trading Down 1.7%
NYSE SHOP opened at $106.53 on Wednesday. Shopify Inc. has a 52 week low of $48.56 and a 52 week high of $129.38. The stock has a market cap of $138.21 billion, a price-to-earnings ratio of 68.73, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63. The company has a 50-day moving average price of $99.56 and a two-hundred day moving average price of $104.95.
Wall Street Analyst Weigh In
SHOP has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Shopify from $107.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Morgan Stanley upped their target price on shares of Shopify from $106.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Mizuho cut their target price on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. BNP Paribas Exane lowered shares of Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 target price on the stock. in a research note on Monday, May 5th. Finally, Scotiabank cut their target price on shares of Shopify from $120.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $115.66.
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Shopify Company Profile
(
Free Report)
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.
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