Capital International Inc. CA Sells 39,971 Shares of Shopify Inc. $SHOP

Capital International Inc. CA reduced its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 6.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 588,128 shares of the software maker’s stock after selling 39,971 shares during the quarter. Capital International Inc. CA’s holdings in Shopify were worth $94,671,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SHOP. Brighton Jones LLC boosted its position in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after purchasing an additional 584 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Shopify by 107.3% in the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after purchasing an additional 7,544 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Shopify by 6.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after purchasing an additional 506 shares in the last quarter. Osterweis Capital Management Inc. bought a new stake in shares of Shopify in the 2nd quarter worth approximately $53,000. Finally, Main Street Financial Solutions LLC boosted its position in shares of Shopify by 15.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock worth $1,284,000 after purchasing an additional 1,479 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Stock Down 5.6%

SHOP opened at $109.54 on Friday. The firm has a 50-day simple moving average of $114.55 and a two-hundred day simple moving average of $132.80. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The company has a market capitalization of $142.15 billion, a PE ratio of 108.46, a price-to-earnings-growth ratio of 3.07 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $998.78. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. As a group, sell-side analysts expect that Shopify Inc. will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. KeyCorp restated an “overweight” rating and issued a $160.00 price objective on shares of Shopify in a report on Wednesday, February 11th. Phillip Securities upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Wedbush decreased their price objective on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Barclays set a $126.00 target price on shares of Shopify and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Stifel Nicolaus set a $115.00 target price on shares of Shopify and gave the company a “hold” rating in a research note on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $157.17.

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.