Marcho Partners LLP Has $18.14 Million Stake in Shopify Inc. $SHOP

Marcho Partners LLP cut its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 33.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,717 shares of the software maker’s stock after selling 56,844 shares during the period. Shopify accounts for about 11.0% of Marcho Partners LLP’s investment portfolio, making the stock its 6th biggest holding. Marcho Partners LLP’s holdings in Shopify were worth $18,144,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SHOP. Norges Bank acquired a new position in Shopify during the fourth quarter valued at approximately $2,611,797,000. Thrivent Financial for Lutherans boosted its position in Shopify by 7,207.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock valued at $184,883,000 after purchasing an additional 1,132,545 shares during the last quarter. Select Equity Group L.P. boosted its position in Shopify by 92.5% during the second quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock valued at $259,124,000 after purchasing an additional 1,079,494 shares during the last quarter. Steadfast Capital Management LP acquired a new position in Shopify during the third quarter valued at approximately $140,930,000. Finally, Vanguard Group Inc. boosted its position in Shopify by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after purchasing an additional 743,803 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on SHOP shares. BMO Capital Markets reduced their price target on Shopify from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Canaccord Genuity Group reduced their price target on Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings cut Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. UBS Group reaffirmed a “neutral” rating on shares of Shopify in a research report on Thursday, May 28th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $140.00 price objective (down from $150.00) on shares of Shopify in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Shopify Stock Down 2.0%

SHOP opened at $108.24 on Friday. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19. The stock has a market cap of $140.46 billion, a price-to-earnings ratio of 107.17, a PEG ratio of 3.10 and a beta of 2.60. The business has a 50 day moving average of $113.99 and a 200-day moving average of $131.61.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. As a group, analysts expect that Shopify Inc. will post 1.36 earnings per share for the current 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.