Capital Research Global Investors Decreases Stock Position in Shopify Inc. $SHOP

Capital Research Global Investors cut its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,512,437 shares of the software maker’s stock after selling 345,414 shares during the period. Capital Research Global Investors’ holdings in Shopify were worth $1,413,655,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SHOP. Capital International Inc. CA boosted its stake in shares of Shopify by 1.5% in the 3rd quarter. Capital International Inc. CA now owns 628,099 shares of the software maker’s stock worth $93,342,000 after buying an additional 9,158 shares during the last quarter. Legal & General Group Plc increased its stake in Shopify by 4.4% during the third quarter. Legal & General Group Plc now owns 6,188,885 shares of the software maker’s stock worth $919,665,000 after acquiring an additional 260,968 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Shopify during the third quarter valued at $4,949,000. Schroder Investment Management Group lifted its holdings in shares of Shopify by 333.2% in the 3rd quarter. Schroder Investment Management Group now owns 345,966 shares of the software maker’s stock worth $51,549,000 after buying an additional 266,100 shares during the period. Finally, Gerber Kawasaki Wealth & Investment Management boosted its stake in shares of Shopify by 1.1% during the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 42,565 shares of the software maker’s stock valued at $6,326,000 after purchasing an additional 481 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NASDAQ SHOP opened at $133.50 on Tuesday. The company has a 50-day simple moving average of $136.61 and a 200-day simple moving average of $149.12. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19. The company has a market cap of $173.80 billion, a PE ratio of 143.55, a price-to-earnings-growth ratio of 4.67 and a beta of 2.83.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Arete Research set a $175.00 price target on Shopify in a research note on Monday, February 2nd. Bank of America lifted their price target on Shopify from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Phillip Securities upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Moffett Nathanson upgraded shares of Shopify from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Monday, February 9th. Finally, Mizuho upgraded Shopify from a “neutral” rating to an “outperform” rating and set a $150.00 target price on the stock in a 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 issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.33.

Shopify 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.