Shopify Inc. $SHOP Shares Sold by Privium Fund Management B.V.

Privium Fund Management B.V. decreased its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 17.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 305,000 shares of the software maker’s stock after selling 65,000 shares during the period. Shopify makes up 8.6% of Privium Fund Management B.V.’s holdings, making the stock its 2nd largest position. Privium Fund Management B.V.’s holdings in Shopify were worth $45,232,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Shopify by 8.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker’s stock valued at $998,137,000 after purchasing an additional 660,198 shares during the period. Swiss National Bank grew its stake in shares of Shopify by 27.0% during the first quarter. Swiss National Bank now owns 4,115,300 shares of the software maker’s stock worth $487,580,000 after purchasing an additional 876,100 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Shopify by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 3,495,964 shares of the software maker’s stock worth $414,691,000 after purchasing an additional 159,873 shares during the period. Amova Asset Management Americas Inc. increased its holdings in Shopify by 5.0% in the first quarter. Amova Asset Management Americas Inc. now owns 3,458,265 shares of the software maker’s stock valued at $410,219,000 after purchasing an additional 165,080 shares during the last quarter. Finally, Amundi increased its holdings in Shopify by 2.7% in the first quarter. Amundi now owns 3,200,943 shares of the software maker’s stock valued at $379,696,000 after purchasing an additional 84,971 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 3.6%

Shares of NASDAQ SHOP traded up $5.16 during mid-day trading on Friday, reaching $148.91. 7,972,804 shares of the company’s stock were exchanged, compared to its average volume of 8,231,345. The firm has a market capitalization of $191.59 billion, a price-to-earnings ratio of 90.80, a PEG ratio of 3.23 and a beta of 2.65. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $152.51 and a 200 day simple moving average of $130.07. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $180.88.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, November 3rd. The software maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.16. Shopify had a return on equity of 12.58% and a net margin of 14.53%. The business had revenue of $3.74 billion for the quarter. During the same quarter last year, the firm earned $0.34 EPS. The company’s revenue for the quarter was up 31.6% on a year-over-year basis. As a group, equities analysts expect that Shopify Inc. will post 1.47 EPS for the current fiscal year.

Trending Headlines about Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify reported 32% year-over-year revenue growth to about $3.7 billion, GMV growth of 30% to $119 billion, and a 22% free-cash-flow margin. Coverage also highlighted a forecast for another quarter of 30%-plus growth as the holiday shopping season approaches. Article Article
• Positive Sentiment: Several analysts remain constructive: Morgan Stanley reiterated a buy call after the pullback, Argus reaffirmed its buy rating with a $180 target, and Wedbush and RBC issued Outperform ratings. UBS raised its target to $160, though it kept a Neutral rating. Article Article
• Positive Sentiment: Traders bought a large volume of Shopify call options, suggesting some market participants are positioning for a rebound, though options activity is not a guarantee of future performance. Article
• Negative Sentiment: One report says Shopify’s results included a slight miss, which may be overshadowing its growth and prompting investors to reassess its premium valuation. Article
• Negative Sentiment: Rosenblatt lowered its expectations for the stock, while Cantor Fitzgerald issued a pessimistic forecast, adding to near-term analyst caution. Article Article

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group increased their target price on Shopify from $170.00 to $194.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. BMO Capital Markets set a $165.00 target price on Shopify and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Rothschild & Co Redburn set a $130.00 target price on Shopify and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Rosenblatt Securities lowered their price target on Shopify from $186.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Wedbush reiterated an “outperform” rating and issued a $176.00 price target on shares of Shopify in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average target price of $178.82.

Shopify Profile

Shopify is a commerce technology company that provides tools for businesses to create and operate online stores. Its platform supports activities such as product management, order processing, payments, shipping, marketing and customer engagement.

Shopify also offers point-of-sale tools for merchants selling in person, connecting retail operations with online sales. Its services are used by businesses of varying sizes and are available to merchants in countries around the world.

Founded in 2006, Shopify is headquartered in Ottawa, Canada.