Shopify Inc. $SHOP Shares Sold by Invesco Ltd.

Invesco Ltd. lowered its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 72.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,774,119 shares of the software maker’s stock after selling 34,051,927 shares during the period. Invesco Ltd. owned 0.98% of Shopify worth $1,898,362,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC lifted its position in Shopify by 1.7% during the third quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock worth $512,000 after buying an additional 59 shares during the period. Accurate Wealth Management LLC grew its holdings in Shopify by 2.0% in the 3rd quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock valued at $526,000 after buying an additional 67 shares during the period. Moloney Securities Asset Management LLC grew its holdings in Shopify by 1.8% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock valued at $587,000 after buying an additional 70 shares during the period. Rothschild Investment LLC increased its stake in shares of Shopify by 47.5% during the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its stake in shares of Shopify by 0.9% during the 3rd quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock valued at $1,228,000 after acquiring an additional 75 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

SHOP opened at $126.17 on Friday. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19. The firm has a 50 day moving average price of $134.60 and a 200 day moving average price of $148.74. The company has a market cap of $164.25 billion, a PE ratio of 135.67, a price-to-earnings-growth ratio of 4.65 and a beta of 2.83.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SHOP shares. Wedbush decreased their target price on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shopify in a research report on Monday, December 29th. Bank of America increased their price target on shares of Shopify from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Evercore set a $135.00 price objective on shares of Shopify in a research note on Wednesday, February 11th. Finally, BNP Paribas Exane started coverage on Shopify in a report on Monday, November 24th. They set a “neutral” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $163.38.

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.