Napean Trading & Investment Co Singapore PTE Ltd Sells 7,405 Shares of Shopify Inc. $SHOP

Napean Trading & Investment Co Singapore PTE Ltd cut its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 19.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,392 shares of the software maker’s stock after selling 7,405 shares during the period. Shopify makes up about 1.0% of Napean Trading & Investment Co Singapore PTE Ltd’s portfolio, making the stock its 27th biggest holding. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Shopify were worth $4,892,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its stake in Shopify by 37.1% during the fourth quarter. M&T Bank Corp now owns 81,082 shares of the software maker’s stock valued at $13,051,000 after buying an additional 21,945 shares during the last quarter. Triasima Portfolio Management inc. boosted its stake in Shopify by 11.0% during the fourth quarter. Triasima Portfolio Management inc. now owns 182,338 shares of the software maker’s stock valued at $29,398,000 after buying an additional 18,028 shares during the last quarter. Assetmark Inc. boosted its stake in Shopify by 6.7% during the fourth quarter. Assetmark Inc. now owns 213,583 shares of the software maker’s stock valued at $34,380,000 after buying an additional 13,415 shares during the last quarter. SG Americas Securities LLC boosted its stake in Shopify by 286.6% during the fourth quarter. SG Americas Securities LLC now owns 508,723 shares of the software maker’s stock valued at $81,889,000 after buying an additional 377,129 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Shopify by 12.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 526,114 shares of the software maker’s stock valued at $84,689,000 after purchasing an additional 59,745 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SHOP. DZ Bank raised Shopify from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. UBS Group reaffirmed a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. National Bank Financial lowered their price objective on Shopify from $200.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Wells Fargo & Company lowered their price objective on Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Finally, Phillip Securities raised Shopify from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Stock Down 2.0%

SHOP opened at $108.24 on Friday. The stock’s fifty day moving average is $113.99 and its two-hundred day moving average is $131.61. The company has a market capitalization of $140.46 billion, a P/E ratio of 107.17, a PEG ratio of 3.03 and a beta of 2.60. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19.

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

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.