Banco Bilbao Vizcaya Argentaria S.A. Has $2.75 Million Position in Shopify Inc. $SHOP

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. significantly reduced its stake in Shopify by 56.6% during the first quarter, bringing its holdings down to 29,442 shares valued at approximately $2.75 million.
• Shopify's stock is currently trading at $136.68, with a market cap of $177.64 billion and an impressive 31.1% year-over-year revenue growth, reporting $2.68 billion in revenue for the last quarter.
• Twenty-four analysts have rated Shopify as a Buy, contributing to a consensus price target of $148.51, with recent price targets raised by several brokerages following positive earnings results.

Banco Bilbao Vizcaya Argentaria S.A. lowered its holdings in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 56.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,442 shares of the software maker's stock after selling 38,378 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Shopify were worth $2,748,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SHOP. Brighton Jones LLC raised its position in Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock valued at $2,252,000 after buying an additional 584 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Shopify by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 496,188 shares of the software maker's stock valued at $52,761,000 after buying an additional 26,416 shares during the last quarter. Stifel Financial Corp raised its position in Shopify by 2.0% in the 4th quarter. Stifel Financial Corp now owns 363,685 shares of the software maker's stock valued at $38,671,000 after buying an additional 6,964 shares during the last quarter. IHT Wealth Management LLC raised its position in Shopify by 4.1% in the 4th quarter. IHT Wealth Management LLC now owns 8,816 shares of the software maker's stock valued at $937,000 after buying an additional 344 shares during the last quarter. Finally, MGO One Seven LLC raised its position in Shopify by 9.3% in the 4th quarter. MGO One Seven LLC now owns 18,008 shares of the software maker's stock valued at $1,915,000 after buying an additional 1,525 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Trading Down 1.1%

Shares of Shopify stock traded down $1.58 on Monday, reaching $140.53. 4,850,916 shares of the company were exchanged, compared to its average volume of 10,300,885. Shopify Inc. has a one year low of $65.86 and a one year high of $156.85. The company has a market capitalization of $182.64 billion, a price-to-earnings ratio of 90.67, a PEG ratio of 4.82 and a beta of 2.63. The company has a 50-day moving average of $124.55 and a 200 day moving average of $109.77.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. Shopify had a return on equity of 12.00% and a net margin of 22.74%.The company had revenue of $2.68 billion for the quarter, compared to analysts' expectations of $2.55 billion. During the same quarter in the prior year, the business posted $0.26 EPS. The business's revenue was up 31.1% compared to the same quarter last year. Analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

Analysts Set New Price Targets

SHOP has been the topic of a number of recent research reports. BNP Paribas Exane lowered Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 target price on the stock. in a research report on Monday, May 5th. Evercore ISI lifted their target price on Shopify from $120.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Cantor Fitzgerald reissued a "neutral" rating and issued a $91.00 target price on shares of Shopify in a research report on Wednesday, June 11th. BNP Paribas lowered Shopify from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Morgan Stanley lifted their target price on Shopify from $106.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Twenty-four investment analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $148.51.

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.