Swiss National Bank Reduces Position in Shopify Inc. (NYSE:SHOP)

Swiss National Bank trimmed its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,912,100 shares of the software maker’s stock after selling 106,000 shares during the quarter. Swiss National Bank owned about 0.30% of Shopify worth $305,136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Management Partners LLC boosted its holdings in Shopify by 0.9% in the 4th quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock valued at $1,085,000 after purchasing an additional 126 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares during the last quarter. Pachira Investments Inc. boosted its holdings in Shopify by 2.1% in the 4th quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock valued at $552,000 after purchasing an additional 146 shares during the last quarter. Baldwin Brothers LLC MA boosted its holdings in Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after purchasing an additional 147 shares during the last quarter. Finally, Capital Advisors Inc. OK lifted its holdings in shares of Shopify by 1.7% in the 4th quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock worth $723,000 after acquiring an additional 153 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 traded up $1.79 during mid-day trading on Thursday, hitting $72.19. The stock had a trading volume of 3,237,896 shares, compared to its average volume of 9,238,874. Shopify Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The firm has a market cap of $92.88 billion, a PE ratio of 801.09 and a beta of 2.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The company’s 50-day simple moving average is $74.83 and its 200-day simple moving average is $73.00.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Sell-side analysts anticipate that Shopify Inc. will post 0.58 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on SHOP. The Goldman Sachs Group upped their price objective on shares of Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. StockNews.com raised shares of Shopify from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Loop Capital cut their target price on shares of Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Barclays cut their target price on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 14th. Finally, Truist Financial upped their target price on shares of Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $78.62.

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.