Capital International Investors Sells 269,516 Shares of Shopify Inc. $SHOP

Capital International Investors cut its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,343,155 shares of the software maker’s stock after selling 269,516 shares during the period. Shopify comprises approximately 1.0% of Capital International Investors’ holdings, making the stock its 24th largest holding. Capital International Investors owned approximately 2.95% of Shopify worth $6,174,038,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Kingdom Financial Group LLC. bought a new position in Shopify in the 4th quarter valued at $26,000. Curio Wealth LLC bought a new position in Shopify in the 4th quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Shopify in the 4th quarter valued at $29,000. Lloyd Advisory Services LLC. bought a new position in Shopify in the 4th quarter valued at $31,000. Finally, Lodestone Wealth Management LLC bought a new position in Shopify in the 4th quarter valued at $31,000. 69.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SHOP shares. ATB Cormark Capital Markets upgraded Shopify from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Wells Fargo & Company reduced their price target on Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. UBS Group restated a “neutral” rating on shares of Shopify in a research report on Thursday, May 28th. Weiss Ratings lowered Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $126.00 price target (down from $181.00) on shares of Shopify in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Shopify Price Performance

Shares of Shopify stock opened at $109.54 on Friday. The firm has a market cap of $142.15 billion, a price-to-earnings ratio of 108.46, a price-to-earnings-growth ratio of 3.07 and a beta of 2.60. The stock’s 50-day moving average is $114.55 and its 200-day moving average is $132.80. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. On average, equities analysts expect that Shopify Inc. will post 1.36 EPS for the current year.

Shopify 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.