Nuveen LLC Sells 1,025,124 Shares of Shopify Inc. $SHOP

Nuveen LLC lowered its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 14.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,100,961 shares of the software maker’s stock after selling 1,025,124 shares during the period. Nuveen LLC owned approximately 0.47% of Shopify worth $982,977,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. First Affirmative Financial Network increased its stake in shares of Shopify by 3.4% in the third quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker’s stock worth $338,000 after purchasing an additional 75 shares in the last quarter. TBH Global Asset Management LLC increased its stake in shares of Shopify by 1.2% in the fourth quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock worth $1,036,000 after purchasing an additional 75 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Shopify by 13.9% in the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after purchasing an additional 77 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of Shopify by 2.6% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,164 shares of the software maker’s stock worth $509,000 after purchasing an additional 80 shares in the last quarter. Finally, Pacific Sage Partners LLC increased its stake in shares of Shopify by 3.9% in the fourth quarter. Pacific Sage Partners LLC now owns 2,133 shares of the software maker’s stock worth $343,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SHOP shares. National Bank Financial reduced their target price on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Canaccord Genuity Group reduced 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. UBS Group reaffirmed a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. 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. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $175.00 price objective on shares of Shopify in a research note on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Trading Up 2.1%

Shares of NASDAQ:SHOP opened at $110.47 on Friday. The company has a 50 day moving average of $114.20 and a 200 day moving average of $131.77. The stock has a market cap of $143.35 billion, a P/E ratio of 109.38, a P/E/G ratio of 3.03 and a beta of 2.60. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data 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 company 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%. On average, equities analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Shopify Company 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.