Shopify Inc. (NYSE:SHOP) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in shares of Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,169,244 shares of the software maker's stock after selling 48,355 shares during the period. Janus Henderson Group PLC owned 0.32% of Shopify worth $443,318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of SHOP. Jennison Associates LLC purchased a new stake in Shopify in the 4th quarter valued at about $132,323,000. Western Financial Corp CA purchased a new stake in Shopify in the 4th quarter valued at about $239,000. Kessler Investment Group LLC purchased a new stake in Shopify in the 4th quarter valued at about $6,105,000. Whalen Wealth Management Inc. purchased a new stake in Shopify in the 4th quarter valued at about $461,000. Finally, First National Corp MA ADV purchased a new stake in Shopify in the 4th quarter valued at about $237,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Stock Performance

Shopify stock traded up $2.41 during trading hours on Wednesday, reaching $110.09. 4,706,153 shares of the stock were exchanged, compared to its average volume of 9,215,320. The stock has a market cap of $142.55 billion, a P/E ratio of 70.83, a P/E/G ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 52-week low of $48.56 and a 52-week high of $129.38. The firm's 50 day moving average is $93.35 and its 200 day moving average is $103.26.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Equities research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several research analyst reports. Barclays reduced their price objective on shares of Shopify from $100.00 to $94.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. The Goldman Sachs Group reduced their price objective on shares of Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Piper Sandler boosted their price target on shares of Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. BNP Paribas Exane lowered shares of Shopify from an "outperform" rating to a "neutral" rating and set a $100.00 price target on the stock. in a research note on Monday, May 5th. Finally, Cantor Fitzgerald cut their price target on shares of Shopify from $120.00 to $80.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $115.37.

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.