Capital International Sarl Decreases Holdings in Shopify Inc. $SHOP

Capital International Sarl reduced its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 636,485 shares of the software maker’s stock after selling 14,835 shares during the period. Shopify makes up 1.6% of Capital International Sarl’s holdings, making the stock its 13th largest position. Capital International Sarl’s holdings in Shopify were worth $94,588,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SHOP. Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Shopify during the third quarter worth $4,110,000. Principal Financial Group Inc. increased its holdings in Shopify by 16.3% in the 3rd quarter. Principal Financial Group Inc. now owns 450,895 shares of the software maker’s stock worth $67,006,000 after buying an additional 63,300 shares during the period. Triton Financial Group Inc acquired a new stake in Shopify during the 3rd quarter valued at approximately $1,931,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Shopify by 65.5% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 158,514 shares of the software maker’s stock valued at $23,557,000 after acquiring an additional 62,743 shares during the last quarter. Finally, TriaGen Wealth Management LLC acquired a new position in Shopify during the third quarter valued at $2,562,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 2.5%

Shares of NASDAQ SHOP opened at $133.50 on Tuesday. The stock has a market cap of $173.80 billion, a PE ratio of 143.55, a P/E/G ratio of 4.67 and a beta of 2.83. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19. The company has a 50-day moving average of $136.61 and a 200 day moving average of $149.12.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SHOP shares. TD Cowen upgraded Shopify from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research note on Wednesday, February 11th. Citigroup reiterated a “buy” rating and issued a $172.00 price objective (down from $195.00) on shares of Shopify in a research report on Friday, February 13th. Canaccord Genuity Group set a $165.00 price target on Shopify and gave the stock a “buy” rating in a research report on Thursday, February 12th. DZ Bank upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Finally, Jefferies Financial Group lifted their target price on shares of Shopify from $125.00 to $150.00 and gave the company a “hold” rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.33.

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.