15,314 Shopify Inc. $SHOP Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC decreased its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 8.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 159,886 shares of the software maker’s stock after selling 15,314 shares during the period. Trillium Asset Management LLC’s holdings in Shopify were worth $23,711,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Nelson Capital Management LLC purchased a new position in Shopify in the 3rd quarter worth approximately $205,000. Wellington Grp LLC lifted its position in Shopify by 55.5% in the 3rd quarter. Wellington Grp LLC now owns 10,610 shares of the software maker’s stock valued at $1,573,000 after acquiring an additional 3,789 shares in the last quarter. Diversified Trust Co boosted its stake in Shopify by 3.7% during the 3rd quarter. Diversified Trust Co now owns 8,439 shares of the software maker’s stock valued at $1,252,000 after purchasing an additional 301 shares during the last quarter. Titiun Yejiel purchased a new stake in Shopify during the 3rd quarter valued at $2,671,000. Finally, William Blair Investment Management LLC purchased a new stake in Shopify during the 3rd quarter valued at $42,568,000. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 0.2%

NASDAQ:SHOP traded up $0.31 during trading hours on Friday, reaching $147.09. The company had a trading volume of 4,360,690 shares, compared to its average volume of 8,820,674. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $180.88. The firm has a market cap of $189.25 billion, a price-to-earnings ratio of 89.69, a PEG ratio of 3.49 and a beta of 2.65. The firm’s 50 day moving average price is $152.79 and its 200-day moving average price is $130.34.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 3rd. The software maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.16. The business had revenue of $3.74 billion during the quarter. Shopify had a net margin of 15.01% and a return on equity of 14.03%. Shopify’s quarterly revenue was up 31.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, analysts forecast that Shopify Inc. will post 1.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on SHOP shares. Piper Sandler reissued an “overweight” rating on shares of Shopify in a report on Monday, October 5th. ATB Cormark Capital Markets downgraded Shopify from a “moderate buy” rating to a “hold” rating in a report on Thursday, October 22nd. Citizens Jmp increased their price objective on Shopify from $150.00 to $185.00 and gave the company a “market outperform” rating in a research report on Thursday, August 6th. RBC Dominion Securities set a $200.00 price objective on Shopify and gave the stock an “outperform” rating in a report on Friday, October 23rd. Finally, Argus reissued a “buy” rating and issued a $180.00 target price on shares of Shopify in a research report on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $178.82.

About Shopify

Shopify is a commerce technology company that provides tools for businesses to create and operate online stores. Its platform supports activities such as product management, order processing, payments, shipping, marketing and customer engagement. Shopify also offers point-of-sale tools for merchants selling in person, connecting retail operations with online sales. Its services are used by businesses of varying sizes and are available to merchants in countries around the world. Founded in 2006, Shopify is headquartered in Ottawa, Canada.