Korea Investment CORP Sells 65,464 Shares of Shopify Inc. $SHOP

Korea Investment CORP lowered its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 981,949 shares of the software maker’s stock after selling 65,464 shares during the period. Korea Investment CORP owned 0.08% of Shopify worth $145,917,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHOP. Financial Gravity Companies Inc. purchased a new position in shares of Shopify during the 2nd quarter valued at $27,000. Rothschild Investment LLC increased its holdings in shares of Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Heartwood Wealth Advisors LLC purchased a new stake in Shopify during the third quarter valued at about $27,000. Estabrook Capital Management purchased a new position in shares of Shopify during the 2nd quarter valued at about $29,000. Finally, Vestor Capital LLC purchased a new position in shares of Shopify during the second quarter worth approximately $34,000. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Phillip Securities upgraded Shopify from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Barclays set a $130.00 price objective on shares of Shopify and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Benchmark lowered their target price on Shopify from $195.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Scotiabank raised shares of Shopify from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $165.00 to $200.00 in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Shopify in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.64.

Shopify Price Performance

Shares of NASDAQ SHOP opened at $130.20 on Friday. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19. The stock has a market cap of $169.50 billion, a PE ratio of 140.00, a price-to-earnings-growth ratio of 4.74 and a beta of 2.83. The firm has a fifty day moving average price of $137.30 and a 200-day moving average price of $149.06.

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.