Korea Investment CORP lowered its holdings in shares of Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 3.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 945,377 shares of the software maker’s stock after selling 36,572 shares during the period. Korea Investment CORP’s holdings in Shopify were worth $152,410,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. First Affirmative Financial Network lifted its position in Shopify by 3.4% during the third quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker’s stock worth $338,000 after acquiring an additional 75 shares during the last quarter. TBH Global Asset Management LLC lifted its position in Shopify by 1.2% during the fourth quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker’s stock worth $1,036,000 after acquiring an additional 75 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Shopify by 13.9% during the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after acquiring an additional 77 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its position in Shopify by 2.6% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,164 shares of the software maker’s stock worth $509,000 after acquiring an additional 80 shares during the last quarter. Finally, Pacific Sage Partners LLC lifted its position in Shopify by 3.9% during the fourth quarter. Pacific Sage Partners LLC now owns 2,133 shares of the software maker’s stock worth $343,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on SHOP shares. Weiss Ratings downgraded shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Phillip Securities upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Wells Fargo & Company dropped their price target on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 price target on shares of Shopify in a research report on Wednesday, May 6th. Finally, Citigroup dropped their price target on shares of Shopify from $163.00 to $156.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Two 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.17.
Shopify Price Performance
Shares of SHOP opened at $108.24 on Friday. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19. The company has a market cap of $140.46 billion, a P/E ratio of 107.17, a P/E/G ratio of 3.10 and a beta of 2.60. The firm has a 50 day simple moving average of $113.99 and a two-hundred day simple moving average of $131.61.
Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last announced 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 business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. On average, analysts expect that Shopify Inc. will post 1.36 earnings per share for the current fiscal 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.
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