Shopify Inc. $SHOP Shares Sold by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management reduced its stake in Shopify by 53.7% in the first quarter, selling over 1.9 million shares and leaving them with about 1.6 million shares, valued at approximately $157.4 million.
• Shopify reported a 31.1% increase in revenue year-over-year for the last quarter, with earnings per share (EPS) of $0.35, surpassing analysts' expectations.
• Analysts have mixed views on Shopify, with price targets ranging from $120 to $180, but a consensus rating of "Moderate Buy" remains widely held.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC cut its stake in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 53.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,648,853 shares of the software maker's stock after selling 1,915,367 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.13% of Shopify worth $157,432,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new position in Shopify in the fourth quarter valued at approximately $30,000. Smithfield Trust Co lifted its holdings in Shopify by 149.2% in the first quarter. Smithfield Trust Co now owns 314 shares of the software maker's stock valued at $30,000 after acquiring an additional 188 shares during the period. Dagco Inc. acquired a new position in Shopify in the first quarter valued at approximately $30,000. Cary Street Partners Investment Advisory LLC lifted its holdings in Shopify by 86.8% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 355 shares of the software maker's stock valued at $34,000 after acquiring an additional 165 shares during the period. Finally, Accent Capital Management LLC acquired a new position in Shopify in the first quarter valued at approximately $46,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

NASDAQ SHOP opened at $143.38 on Friday. The business has a fifty day moving average price of $133.77 and a 200 day moving average price of $112.04. Shopify Inc. has a one year low of $69.84 and a one year high of $156.85. The company has a market cap of $186.35 billion, a P/E ratio of 80.10, a P/E/G ratio of 6.87 and a beta of 2.69.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on SHOP shares. Loop Capital downgraded Shopify from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a report on Tuesday, July 22nd. Canaccord Genuity Group upped their target price on Shopify from $115.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Barclays upped their target price on Shopify from $94.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. BMO Capital Markets upped their target price on Shopify from $120.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Mizuho upped their target price on Shopify from $85.00 to $150.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Twenty-four investment analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Shopify currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.27.

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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