Shopify Inc. $SHOP Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in Shopify by 38.3%, holding 116,912 shares after selling 72,500 shares during the second quarter.
• Shopify's stock performance showed a 12-month high of $162.60 and revenue growth of 31.1% year-over-year, with earnings per share surpassing analysts' estimates.
• Analyst ratings remain mixed with an average "Hold" rating and a price target of $150.59, as 22 analysts rated it "Buy," while one rated it "Sell."

Robeco Institutional Asset Management B.V. cut its position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 38.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,912 shares of the software maker's stock after selling 72,500 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Shopify were worth $13,486,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Shopify in the second quarter valued at approximately $208,000. Trilogy Capital Inc. acquired a new stake in Shopify during the 2nd quarter worth $234,000. Consolidated Portfolio Review Corp purchased a new position in Shopify during the 2nd quarter worth $260,000. Truist Financial Corp grew its position in Shopify by 5.0% during the 2nd quarter. Truist Financial Corp now owns 385,501 shares of the software maker's stock worth $44,467,000 after purchasing an additional 18,354 shares during the last quarter. Finally, Bourgeon Capital Management LLC acquired a new position in Shopify in the second quarter valued at $416,000. Institutional investors and hedge funds own 69.27% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Shopify in a research note on Saturday, September 27th. Bank of America increased their price objective on Shopify from $110.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Arete reissued a "neutral" rating on shares of Shopify in a report on Wednesday, July 23rd. Stifel Nicolaus increased their price target on Shopify from $110.00 to $150.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Finally, DA Davidson boosted their price objective on shares of Shopify from $125.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Twenty-two analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $150.59.

Shopify Price Performance

SHOP stock opened at $161.14 on Friday. The company's 50 day simple moving average is $142.78 and its 200-day simple moving average is $117.23. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $162.60. The firm has a market capitalization of $209.43 billion, a PE ratio of 90.02, a P/E/G ratio of 7.64 and a beta of 2.72.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last posted its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.Shopify's revenue was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. As a group, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Shopify 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.

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