Knights of Columbus Asset Advisors LLC Decreases Stake in Shopify Inc. $SHOP

Knights of Columbus Asset Advisors LLC lowered its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 17.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,955 shares of the software maker’s stock after selling 4,700 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Shopify were worth $3,700,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Moloney Securities Asset Management LLC raised its holdings in shares of Shopify by 1.8% in the third quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock worth $587,000 after buying an additional 70 shares during the last quarter. Seros Financial LLC raised its holdings in shares of Shopify by 2.7% in the third quarter. Seros Financial LLC now owns 2,856 shares of the software maker’s stock worth $424,000 after buying an additional 75 shares during the last quarter. First Affirmative Financial Network raised its holdings in shares of Shopify by 3.4% during the third quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker’s stock worth $338,000 after purchasing an additional 75 shares during the last quarter. TBH Global Asset Management LLC raised its holdings in shares of Shopify by 1.2% during the fourth quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock worth $1,036,000 after purchasing an additional 75 shares during the last quarter. Finally, Strategic Advisors LLC raised its holdings in shares of Shopify by 0.3% during the third quarter. Strategic Advisors LLC now owns 28,785 shares of the software maker’s stock worth $4,278,000 after purchasing an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

SHOP opened at $106.60 on Thursday. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The company has a fifty day moving average of $115.07 and a two-hundred day moving average of $134.43. The stock has a market capitalization of $138.33 billion, a price-to-earnings ratio of 105.55, a PEG ratio of 2.94 and a beta of 2.64.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. On average, equities research analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on SHOP shares. BMO Capital Markets reduced their target price on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Oppenheimer reissued an “outperform” rating and set a $175.00 target price on shares of Shopify in a report on Wednesday, May 6th. Evercore set a $135.00 target price on shares of Shopify in a report on Wednesday, February 11th. Truist Financial set a $150.00 target price on shares of Shopify and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, Citizens Jmp reduced their target price on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $157.17.

Shopify Company 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.