Shopify Inc. $SHOP Shares Sold by Lbp Am Sa

Lbp Am Sa reduced its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 21.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,793 shares of the software maker’s stock after selling 40,000 shares during the period. Lbp Am Sa’s holdings in Shopify were worth $17,048,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Shopify by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker’s stock valued at $4,563,106,000 after purchasing an additional 882,168 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Shopify by 19.7% in the 1st quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock valued at $822,745,000 after purchasing an additional 1,426,406 shares in the last quarter. Nuveen LLC acquired a new stake in Shopify in the 1st quarter valued at $667,392,000. Canada Pension Plan Investment Board increased its holdings in Shopify by 34.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock valued at $565,504,000 after purchasing an additional 1,522,573 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Shopify by 21.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker’s stock valued at $539,382,000 after buying an additional 979,598 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP stock opened at $148.67 on Wednesday. Shopify Inc. has a one year low of $69.84 and a one year high of $159.01. The company’s 50-day simple moving average is $140.91 and its 200-day simple moving average is $116.06. The stock has a market capitalization of $193.22 billion, a price-to-earnings ratio of 83.06, a PEG ratio of 7.06 and a beta of 2.69.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. As a group, research analysts forecast that Shopify Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. CIBC upped their price objective on shares of Shopify from $145.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Cantor Fitzgerald set a $156.00 price objective on shares of Shopify and gave the company a “neutral” rating in a research report on Wednesday, August 27th. DA Davidson upped their price objective on shares of Shopify from $125.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Wells Fargo & Company upped their price objective on shares of Shopify from $107.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, June 6th. Finally, Phillip Securities cut shares of Shopify from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 12th. Twenty-three research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.83.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.