Shopify Inc. $SHOP Holdings Lowered by BIT Capital GmbH

BIT Capital GmbH trimmed its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 174,201 shares of the software maker’s stock after selling 14,551 shares during the period. Shopify makes up approximately 1.0% of BIT Capital GmbH’s investment portfolio, making the stock its 22nd largest position. BIT Capital GmbH’s holdings in Shopify were worth $28,041,000 as of its most recent SEC filing.

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

Shopify Stock Down 5.6%

SHOP opened at $109.54 on Friday. The stock’s 50 day moving average price is $114.55 and its two-hundred day moving average price is $132.80. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19. The firm has a market capitalization of $142.15 billion, a P/E ratio of 108.46, a price-to-earnings-growth ratio of 3.25 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. The company had revenue of $3.17 billion during 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%. As a group, analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

SHOP has been the topic of several recent research reports. ATB Cormark Capital Markets upgraded Shopify from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Robert W. Baird set a $150.00 target price on Shopify in a research report on Wednesday, May 6th. DZ Bank raised Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Jefferies Financial Group reiterated a “hold” rating and issued a $140.00 price target (down from $150.00) on shares of Shopify in a research note on Tuesday, May 5th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $175.00 price target on shares of Shopify in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $157.17.

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.