Shopify Inc. $SHOP Shares Sold by Capital International Investors

Key Points

• Capital International Investors trimmed its stake in Shopify by 3.6% in Q3, selling 1,443,988 shares and leaving it with 38,612,671 shares (about a 2.97% stake) valued at roughly $5.74 billion, making Shopify its 25th largest holding (~0.9% of the firm's portfolio).
• Institutional ownership of Shopify stands at 69.27%, with several other funds initiating or modestly increasing positions in Q2–Q3.
• Analysts have a consensus rating of Moderate Buy with a $163.33 target; shares opened at $133.50, trade within a 52-week range of $69.84–$182.19, and Shopify has a market cap of about $173.8 billion and a P/E near 143.6.

Capital International Investors lowered its stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,612,671 shares of the software maker's stock after selling 1,443,988 shares during the quarter. Shopify makes up about 0.9% of Capital International Investors' holdings, making the stock its 25th biggest position. Capital International Investors owned 2.97% of Shopify worth $5,738,500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SHOP. Heartwood Wealth Advisors LLC purchased a new stake in Shopify in the third quarter valued at approximately $27,000. Rothschild Investment LLC lifted its holdings in shares of Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker's stock valued at $27,000 after buying an additional 75 shares during the period. Financial Gravity Companies Inc. purchased a new stake in shares of Shopify in the second quarter valued at approximately $27,000. Caitlin John LLC acquired a new position in Shopify during the third quarter worth $36,000. Finally, Estabrook Capital Management acquired a new position in Shopify during the second quarter worth $29,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 2.5%

Shares of NASDAQ:SHOP opened at $133.50 on Tuesday. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19. The company has a market capitalization of $173.80 billion, a price-to-earnings ratio of 143.55, a price-to-earnings-growth ratio of 4.67 and a beta of 2.83. The company has a 50 day moving average of $136.61 and a two-hundred day moving average of $149.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. TD Cowen raised shares of Shopify from a "hold" rating to a "buy" rating and set a $159.00 price target on the stock in a research note on Wednesday, February 11th. Benchmark lowered their price target on Shopify from $195.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, February 10th. Robert W. Baird set a $160.00 price objective on Shopify in a research note on Thursday, February 12th. TD Securities raised Shopify from a "hold" rating to a "buy" rating and set a $159.00 price objective for the company in a report on Thursday, February 12th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $175.00 price objective on shares of Shopify in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.33.

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.

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP.

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.