Shopify Inc. $SHOP Stock Sold by Privium Fund Management B.V.

Key Points

• Privium Fund Management cut its Shopify stake by 17.6%, selling 65,000 shares in the third quarter. It still held 305,000 shares, worth about $45.2 million and representing 8.6% of its portfolio.
• Shopify reported quarterly revenue of $3.74 billion, up 31.6% year over year, and EPS of $0.49, ahead of analysts’ $0.33 consensus estimate.
• Analyst sentiment was broadly positive, with a “Moderate Buy” consensus and an average price target of $178.82, though some recent coverage flagged valuation concerns and more cautious forecasts.

Privium Fund Management B.V. lessened its stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 17.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 305,000 shares of the software maker's stock after selling 65,000 shares during the quarter. Shopify accounts for about 8.6% of Privium Fund Management B.V.'s investment portfolio, making the stock its 2nd largest position. Privium Fund Management B.V.'s holdings in Shopify were worth $45,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new position in Shopify during the third quarter worth $29,000. MADDEN SECURITIES Corp acquired a new stake in shares of Shopify in the 3rd quarter valued at $30,000. Laurel Wealth Advisors LLC bought a new stake in shares of Shopify in the 3rd quarter worth about $32,000. Graney & King LLC bought a new stake in shares of Shopify in the 1st quarter worth about $27,000. Finally, Trellis Wealth Advisors LLC bought a new stake in shares of Shopify in the 3rd quarter worth about $37,000. Institutional investors own 69.27% of the company's stock.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify reported 32% year-over-year revenue growth to about $3.7 billion, GMV growth of 30% to $119 billion, and a 22% free-cash-flow margin. Coverage also highlighted a forecast for another quarter of 30%-plus growth as the holiday shopping season approaches. Article Article
• Positive Sentiment: Several analysts remain constructive: Morgan Stanley reiterated a buy call after the pullback, Argus reaffirmed its buy rating with a $180 target, and Wedbush and RBC issued Outperform ratings. UBS raised its target to $160, though it kept a Neutral rating. Article Article
• Positive Sentiment: Traders bought a large volume of Shopify call options, suggesting some market participants are positioning for a rebound, though options activity is not a guarantee of future performance. Article
• Negative Sentiment: One report says Shopify’s results included a slight miss, which may be overshadowing its growth and prompting investors to reassess its premium valuation. Article
• Negative Sentiment: Rosenblatt lowered its expectations for the stock, while Cantor Fitzgerald issued a pessimistic forecast, adding to near-term analyst caution. Article Article

Shopify Trading Up 3.6%

SHOP stock traded up $5.16 during trading on Friday, hitting $148.91. The company had a trading volume of 7,972,804 shares, compared to its average volume of 8,231,345. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $152.51 and a 200-day moving average price of $130.07. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $180.88. The stock has a market cap of $191.59 billion, a price-to-earnings ratio of 90.80, a PEG ratio of 3.23 and a beta of 2.65.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data on Tuesday, November 3rd. The software maker reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.16. The firm had revenue of $3.74 billion for the quarter. Shopify had a return on equity of 12.58% and a net margin of 14.53%. The firm's quarterly revenue was up 31.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 earnings per share. As a group, analysts predict that Shopify Inc. will post 1.47 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on SHOP. JPMorgan Chase & Co. lifted their price target on shares of Shopify from $185.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, October 6th. Benchmark upped their price objective on shares of Shopify from $145.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Citigroup raised their price objective on shares of Shopify from $196.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, October 27th. Stifel Nicolaus set a $210.00 price objective on shares of Shopify and gave the stock a "buy" rating in a report on Wednesday, October 14th. Finally, Truist Financial set a $180.00 target price on shares of Shopify and gave the company a "buy" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and an average target price of $178.82.

Shopify Company Profile

Shopify is a commerce technology company that provides tools for businesses to create and operate online stores. Its platform supports activities such as product management, order processing, payments, shipping, marketing and customer engagement.

Shopify also offers point-of-sale tools for merchants selling in person, connecting retail operations with online sales. Its services are used by businesses of varying sizes and are available to merchants in countries around the world.

Founded in 2006, Shopify is headquartered in Ottawa, Canada.

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