Sands Capital Management LLC Sells 555,344 Shares of Shopify Inc. $SHOP

Sands Capital Management LLC lessened its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,937,271 shares of the software maker’s stock after selling 555,344 shares during the period. Shopify accounts for 2.8% of Sands Capital Management LLC’s holdings, making the stock its 13th biggest holding. Sands Capital Management LLC owned about 0.53% of Shopify worth $1,030,948,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Financial Gravity Companies Inc. bought a new position in Shopify during the 2nd quarter worth $27,000. Rothschild Investment LLC grew its position in shares of Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Heartwood Wealth Advisors LLC acquired a new stake in shares of Shopify in the third quarter valued at about $27,000. Estabrook Capital Management acquired a new stake in shares of Shopify in the second quarter valued at about $29,000. Finally, Vestor Capital LLC acquired a new stake in shares of Shopify in the second quarter valued at about $34,000. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SHOP. Robert W. Baird set a $160.00 price objective on Shopify in a research note on Thursday, February 12th. Citizens Jmp decreased their target price on shares of Shopify from $200.00 to $160.00 and set a “market outperform” rating for the company in a research report on Thursday, February 12th. Needham & Company LLC restated a “buy” rating and set a $180.00 price target on shares of Shopify in a report on Thursday, February 12th. Citigroup restated a “buy” rating and issued a $172.00 price target (down from $195.00) on shares of Shopify in a research report on Friday, February 13th. Finally, Phillip Securities raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Two 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $163.33.

Shopify Price Performance

Shares of Shopify stock opened at $129.36 on Wednesday. The stock’s 50-day moving average is $135.92 and its 200 day moving average is $149.03. Shopify Inc. has a one year low of $69.84 and a one year high of $182.19. The firm has a market cap of $168.41 billion, a price-to-earnings ratio of 139.10, a PEG ratio of 4.79 and a beta of 2.83.

Shopify 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.