Gavilan Investment Partners LLC decreased its stake in Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 24.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,000 shares of the software maker’s stock after selling 75,000 shares during the quarter. Shopify makes up 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 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also bought and sold shares of the company. Kingdom Financial Group LLC. acquired a new stake in Shopify in the 4th quarter valued at $26,000. Curio Wealth LLC bought a new position in Shopify in the 4th quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Shopify in the 4th quarter valued at $29,000. Lloyd Advisory Services LLC. bought a new position in Shopify in the 4th quarter valued at $31,000. Finally, Lodestone Wealth Management LLC bought a new position in Shopify in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 69.27% of the company’s stock.
Wall Street Analyst Weigh In
SHOP has been the subject of several research analyst reports. Citizens Jmp cut their price objective on Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $170.00 price objective on shares of Shopify in a research report on Wednesday, May 6th. DA Davidson cut their price objective on Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. National Bank Financial cut their price objective on Shopify from $200.00 to $155.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Finally, Citigroup cut their price objective on Shopify from $163.00 to $156.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $157.17.
Shopify Stock Down 2.0%
SHOP stock opened at $108.24 on Friday. The company 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 twelve month low of $94.00 and a twelve month high of $182.19. The business has a fifty day moving average of $113.99 and a 200-day moving average of $131.61.
Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last released its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. As a group, equities research analysts anticipate 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.
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