Sands Capital Management LLC Reduces Holdings in Shopify Inc. (NYSE:SHOP)

Sands Capital Management LLC lowered its stake in shares of Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,805,951 shares of the software maker’s stock after selling 950,764 shares during the quarter. Shopify comprises 3.5% of Sands Capital Management LLC’s holdings, making the stock its 10th largest holding. Sands Capital Management LLC owned 1.15% of Shopify worth $1,153,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in SHOP. Norges Bank bought a new stake in Shopify during the fourth quarter valued at about $1,049,089,000. Artisan Partners Limited Partnership boosted its holdings in Shopify by 78.4% in the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock worth $262,462,000 after acquiring an additional 2,113,773 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Shopify by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after acquiring an additional 1,419,749 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Shopify in the third quarter worth about $68,746,000. Finally, International Assets Investment Management LLC boosted its holdings in Shopify by 6,637.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,188,598 shares of the software maker’s stock worth $92,592,000 after acquiring an additional 1,170,956 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SHOP. Truist Financial raised their price target on Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, February 12th. Barclays decreased their target price on Shopify from $68.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. Mizuho decreased their target price on Shopify from $75.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft decreased their target price on Shopify from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, CIBC decreased their target price on Shopify from $100.00 to $85.00 and set an “outperformer” rating for the company in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $77.06.

Read Our Latest Analysis on Shopify

Shopify Trading Down 0.3 %

NYSE:SHOP traded down $0.16 during trading hours on Monday, hitting $58.99. The company had a trading volume of 3,630,456 shares, compared to its average volume of 10,344,734. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average of $68.20 and a 200 day moving average of $74.10. The company has a market cap of $76.02 billion, a P/E ratio of -347.12, a P/E/G ratio of 2.70 and a beta of 2.27. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last issued its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. Sell-side analysts expect that Shopify Inc. will post 0.59 earnings per share for the current year.

Shopify Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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