Mutual Advisors LLC Lowers Stock Holdings in Shopify Inc. (NYSE:SHOP)

Mutual Advisors LLC trimmed its position in Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 16.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,108 shares of the software maker’s stock after selling 5,053 shares during the quarter. Mutual Advisors LLC’s holdings in Shopify were worth $1,938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SHOP. Norges Bank bought a new position in shares of Shopify in the fourth quarter worth approximately $1,049,089,000. Capital World Investors increased its position in shares of Shopify by 28.7% in the fourth quarter. Capital World Investors now owns 39,424,769 shares of the software maker’s stock worth $3,071,197,000 after purchasing an additional 8,789,411 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Shopify by 118.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,382,000 shares of the software maker’s stock valued at $263,452,000 after acquiring an additional 1,837,000 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Shopify by 33.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 6,416,115 shares of the software maker’s stock valued at $499,815,000 after acquiring an additional 1,606,482 shares during the last quarter. Finally, Baillie Gifford & Co. grew its position in Shopify by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after acquiring an additional 1,419,749 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SHOP has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Shopify from $85.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Loop Capital reduced their price target on shares of Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. JPMorgan Chase & Co. initiated coverage on shares of Shopify in a research report on Tuesday, June 11th. They set an “overweight” rating and a $74.00 price target on the stock. Barclays reduced their price target on shares of Shopify from $68.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Finally, Atb Cap Markets raised Shopify from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.42.

View Our Latest Analysis on Shopify

Shopify Stock Down 1.8 %

NYSE SHOP opened at $66.12 on Wednesday. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The stock has a 50-day moving average of $63.47 and a 200 day moving average of $72.49. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last released its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. As a group, analysts forecast that Shopify Inc. will post 0.61 EPS for the current fiscal year.

Shopify Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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