Sustainable Growth Advisers LP Sells 30,191 Shares of Shopify Inc. $SHOP

Sustainable Growth Advisers LP cut its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 33.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,651 shares of the software maker’s stock after selling 30,191 shares during the quarter. Sustainable Growth Advisers LP’s holdings in Shopify were worth $9,763,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kingdom Financial Group LLC. bought a new stake in Shopify in the 4th quarter valued at $26,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shopify in the 4th quarter valued at $29,000. Lodestone Wealth Management LLC bought a new stake in Shopify in the 4th quarter valued at $31,000. Sound Income Strategies LLC boosted its stake in Shopify by 82.4% in the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock valued at $31,000 after purchasing an additional 89 shares during the period. Finally, Lloyd Advisory Services LLC. bought a new stake in Shopify in the 4th quarter valued at $31,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Up 4.6%

Shares of SHOP stock opened at $124.12 on Tuesday. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The company has a market cap of $161.06 billion, a P/E ratio of 122.89, a P/E/G ratio of 3.33 and a beta of 2.64. The business has a fifty day simple moving average of $114.75 and a 200 day simple moving average of $133.64.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping the consensus estimate of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. As a group, equities research analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SHOP has been the subject of several recent research reports. TD Cowen upgraded Shopify from a “hold” rating to a “buy” rating and set a $159.00 price target for the company in a research note on Wednesday, February 11th. Robert W. Baird set a $150.00 price target on Shopify in a research note on Wednesday, May 6th. Jefferies Financial Group reiterated a “hold” rating and set a $140.00 target price (down from $150.00) on shares of Shopify in a research report on Tuesday, May 5th. TD Securities raised Shopify from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a report on Thursday, February 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $175.00 target price on shares of Shopify in a report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Company 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.