Shopify Inc. $SHOP Shares Sold by Strategy Capital LLC

Strategy Capital LLC trimmed its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,635,575 shares of the software maker’s stock after selling 189,668 shares during the quarter. Shopify comprises approximately 19.4% of Strategy Capital LLC’s holdings, making the stock its largest position. Strategy Capital LLC owned 0.13% of Shopify worth $263,279,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Kingdom Financial Group LLC. acquired a new stake in shares of Shopify in the fourth quarter worth $26,000. Curio Wealth LLC acquired a new stake in shares of Shopify in the fourth quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Shopify in the fourth quarter worth $29,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Shopify in the fourth quarter worth $31,000. Finally, Lodestone Wealth Management LLC acquired a new stake in shares of Shopify in the fourth quarter worth $31,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. DA Davidson reduced their price objective on shares of Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $170.00 target price on shares of Shopify in a research note on Wednesday, May 6th. BMO Capital Markets cut their target price on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. UBS Group reiterated a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. Finally, Canaccord Genuity Group cut their target price on shares of Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Price Performance

NASDAQ:SHOP opened at $108.24 on Friday. The stock has a market cap of $140.46 billion, a P/E ratio of 107.17, a PEG 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. The company has a fifty day moving average price of $113.99 and a 200 day moving average price of $131.61.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its 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 firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. As a group, equities research analysts anticipate that Shopify Inc. will post 1.36 EPS for the current 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.