SG Americas Securities LLC Has $32.87 Million Stake in Shopify Inc. $SHOP

SG Americas Securities LLC cut its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 45.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 277,078 shares of the software maker’s stock after selling 231,645 shares during the quarter. SG Americas Securities LLC’s holdings in Shopify were worth $32,867,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Shopify by 2.8% in the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after acquiring an additional 584 shares during the last quarter. AQR Capital Management LLC raised its position in Shopify by 107.3% during the first quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after purchasing an additional 7,544 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Shopify by 6.6% during the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after purchasing an additional 506 shares during the last quarter. Osterweis Capital Management Inc. bought a new stake in Shopify during the second quarter worth $53,000. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of Shopify by 15.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock valued at $1,284,000 after purchasing an additional 1,479 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SHOP shares. National Bank Financial decreased their target price on Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Barclays set a $126.00 price target on shares of Shopify and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $170.00 price target on shares of Shopify in a report on Wednesday, May 6th. Wells Fargo & Company lowered their price objective on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $180.00 price objective on shares of Shopify in a research note on Tuesday, May 5th. 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. According to MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Stock Performance

Shopify stock opened at $107.68 on Wednesday. The firm has a market cap of $139.73 billion, a price-to-earnings ratio of 106.61, a PEG ratio of 2.97 and a beta of 2.60. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The firm has a 50 day moving average price of $113.02 and a two-hundred day moving average price of $129.09.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping the consensus estimate of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.08 billion. As a group, equities research analysts predict that Shopify Inc. will post 1.39 EPS for the current fiscal year.

About Shopify

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.