Sands Capital Management LLC Has $1.53 Billion Holdings in Shopify Inc. $SHOP

Sands Capital Management LLC boosted its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 37.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,506,036 shares of the software maker’s stock after purchasing an additional 2,568,765 shares during the period. Shopify makes up approximately 4.7% of Sands Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding. Sands Capital Management LLC owned approximately 0.73% of Shopify worth $1,530,187,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Kingdom Financial Group LLC. bought a new stake in shares of Shopify during the fourth quarter valued at approximately $26,000. Curio Wealth LLC bought a new stake in shares of Shopify during the fourth quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Shopify during the fourth quarter valued at approximately $29,000. Lloyd Advisory Services LLC. bought a new stake in shares of Shopify during the fourth quarter valued at approximately $31,000. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Shopify during the fourth quarter valued at approximately $31,000. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

SHOP has been the subject of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. UBS Group reaffirmed a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. Phillip Securities raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 price target (down from $165.00) on shares of Shopify in a research note on Tuesday, May 5th. Finally, Robert W. Baird set a $150.00 price target on shares of Shopify in a research note on Wednesday, May 6th. Two equities research 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $108.24 on Monday. The company has a market capitalization of $140.46 billion, a price-to-earnings ratio of 107.17, a price-to-earnings-growth ratio of 3.03 and a beta of 2.60. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The firm has a 50 day moving average of $113.99 and a 200 day moving average of $131.44.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS 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 net margin of 10.77% and a return on equity of 12.07%. On average, sell-side analysts expect that Shopify Inc. will post 1.36 EPS 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.