Shopify Inc. $SHOP Shares Sold by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA cut its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 17.3% in the 1st quarter, Holdings Channel reports. The firm owned 230,457 shares of the software maker’s stock after selling 48,210 shares during the period. Union Bancaire Privee UBP SA’s holdings in Shopify were worth $27,337,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SHOP. M&T Bank Corp raised its position in Shopify by 37.1% in the 4th quarter. M&T Bank Corp now owns 81,082 shares of the software maker’s stock worth $13,051,000 after purchasing an additional 21,945 shares during the last quarter. Triasima Portfolio Management inc. grew its holdings in shares of Shopify by 11.0% in the 4th quarter. Triasima Portfolio Management inc. now owns 182,338 shares of the software maker’s stock valued at $29,398,000 after buying an additional 18,028 shares during the period. Assetmark Inc. increased its holdings in shares of Shopify by 6.7% in the fourth quarter. Assetmark Inc. now owns 213,583 shares of the software maker’s stock worth $34,380,000 after acquiring an additional 13,415 shares in the last quarter. SG Americas Securities LLC increased its stake in Shopify by 286.6% during the 4th quarter. SG Americas Securities LLC now owns 508,723 shares of the software maker’s stock worth $81,889,000 after purchasing an additional 377,129 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Shopify by 12.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 526,114 shares of the software maker’s stock worth $84,689,000 after acquiring an additional 59,745 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 4.7%

Shares of SHOP stock opened at $116.86 on Friday. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19. The stock has a market cap of $151.64 billion, a price-to-earnings ratio of 115.70, a PEG ratio of 3.07 and a beta of 2.60. The stock has a 50-day moving average of $112.68 and a 200-day moving average of $128.33.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Sell-side analysts forecast that Shopify Inc. will post 1.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of recent research reports. Citizens Jmp reduced their price objective on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. Barclays set a $126.00 target price on shares of Shopify and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Piper Sandler restated an “overweight” rating and issued a $150.00 price target (down from $165.00) on shares of Shopify in a research note on Tuesday, May 5th. National Bank Financial lowered their target price on shares of Shopify from $200.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Finally, Wells Fargo & Company dropped their price target on Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research note 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.17.

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.