Robeco Institutional Asset Management B.V. Has $18.09 Million Stake in Shopify Inc. (NYSE:SHOP)

Robeco Institutional Asset Management B.V. decreased its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 10.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 189,412 shares of the software maker’s stock after selling 21,256 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Shopify were worth $18,085,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC bought a new position in shares of Shopify during the 1st quarter valued at $382,000. Assenagon Asset Management S.A. raised its holdings in shares of Shopify by 1.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 38,732 shares of the software maker’s stock valued at $3,694,000 after purchasing an additional 432 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Shopify by 3.8% during the 1st quarter. Bessemer Group Inc. now owns 1,059,585 shares of the software maker’s stock valued at $101,163,000 after purchasing an additional 38,616 shares in the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of Shopify by 2.9% during the 1st quarter. Johnson Investment Counsel Inc. now owns 5,541 shares of the software maker’s stock valued at $529,000 after purchasing an additional 158 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Shopify by 2.1% during the 4th quarter. Blair William & Co. IL now owns 467,025 shares of the software maker’s stock valued at $49,659,000 after purchasing an additional 9,819 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NYSE SHOP opened at $113.65 on Friday. The company’s 50 day simple moving average is $103.68 and its 200 day simple moving average is $104.72. The firm has a market capitalization of $147.45 billion, a P/E ratio of 73.32, a P/E/G ratio of 4.82 and a beta of 2.63. Shopify Inc. has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent analyst reports. UBS Group dropped their target price on shares of Shopify from $125.00 to $110.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. BNP Paribas Exane downgraded shares of Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 target price on the stock. in a report on Monday, May 5th. Scotiabank dropped their target price on shares of Shopify from $120.00 to $90.00 and set a “sector perform” rating on the stock in a report on Monday, April 28th. National Bankshares dropped their target price on shares of Shopify from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Loop Capital dropped their target price on shares of Shopify from $150.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $115.66.

Shopify 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.