Capital International Inc. CA Has $94.67 Million Stock Position in Shopify Inc. $SHOP

Capital International Inc. CA lessened its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 588,128 shares of the software maker’s stock after selling 39,971 shares during the period. Capital International Inc. CA’s holdings in Shopify were worth $94,671,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Capital Group Investment Management PTE. LTD. increased its holdings in Shopify by 4.6% in the 4th quarter. Capital Group Investment Management PTE. LTD. now owns 84,867 shares of the software maker’s stock worth $13,661,000 after purchasing an additional 3,713 shares in the last quarter. Modus Advisors LLC acquired a new position in Shopify in the 4th quarter worth about $34,000. Valtrion Capital Management LLC acquired a new position in Shopify in the 4th quarter worth about $320,000. Dearborn Partners LLC increased its holdings in Shopify by 6.8% in the 4th quarter. Dearborn Partners LLC now owns 1,706 shares of the software maker’s stock worth $275,000 after purchasing an additional 108 shares in the last quarter. Finally, XML Financial LLC increased its holdings in Shopify by 78.5% in the 4th quarter. XML Financial LLC now owns 2,955 shares of the software maker’s stock worth $476,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analysts Set New Price Targets

SHOP has been the topic of a number of analyst reports. Phillip Securities upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Canaccord Genuity Group reduced their price target on Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Benchmark reduced their price target on Shopify from $195.00 to $145.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Truist Financial set a $150.00 target price on Shopify and gave the company a “buy” rating in a research report on Tuesday, February 17th. Finally, Stifel Nicolaus set a $115.00 target price on Shopify and gave the company a “hold” rating in a research report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Trading Down 5.6%

Shares of SHOP opened at $109.54 on Friday. The company has a market capitalization of $142.15 billion, a price-to-earnings ratio of 108.46, a PEG ratio of 3.07 and a beta of 2.60. The stock has a 50 day moving average of $114.55 and a 200 day moving average of $132.80. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results 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 firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. As a group, equities research analysts predict that Shopify Inc. will post 1.36 earnings per share for the current year.

Shopify Company 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.