Gavilan Investment Partners LLC Sells 75,000 Shares of Shopify Inc. $SHOP

Gavilan Investment Partners LLC lowered its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 24.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 230,000 shares of the software maker’s stock after selling 75,000 shares during the quarter. Shopify accounts for about 8.9% of Gavilan Investment Partners LLC’s investment portfolio, making the stock its 4th largest position. Gavilan Investment Partners LLC’s holdings in Shopify were worth $37,023,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kingdom Financial Group LLC. acquired a new stake in Shopify in the 4th quarter valued at approximately $26,000. Curio Wealth LLC acquired a new stake in shares of Shopify during the 4th quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Shopify during the 4th quarter worth approximately $29,000. Lodestone Wealth Management LLC acquired a new stake in shares of Shopify during the 4th quarter worth approximately $31,000. Finally, Sound Income Strategies LLC grew its holdings in shares of Shopify by 82.4% during the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after purchasing an additional 89 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of SHOP stock opened at $108.24 on Friday. The stock’s fifty day simple moving average is $113.99 and its 200 day simple moving average is $131.61. The firm has a market cap of $140.46 billion, a price-to-earnings ratio of 107.17, a P/E/G ratio of 3.10 and a beta of 2.60. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, beating the consensus estimate of $0.22 by $998.78. The business had revenue of $3.17 billion for 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%. On average, research analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $150.00 price objective (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. BMO Capital Markets decreased their price objective on Shopify from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Robert W. Baird set a $150.00 price objective on Shopify in a report on Wednesday, May 6th. Citizens Jmp decreased their price objective on Shopify from $160.00 to $150.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 6th. Finally, UBS Group reissued a “neutral” rating on shares of Shopify in a report on Thursday, May 28th. Two equities research 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.