Gavilan Investment Partners LLC Has $35.09 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Gavilan Investment Partners LLC trimmed its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 17.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 330,000 shares of the software maker’s stock after selling 71,000 shares during the quarter. Shopify makes up approximately 9.7% of Gavilan Investment Partners LLC’s holdings, making the stock its 3rd largest position. Gavilan Investment Partners LLC’s holdings in Shopify were worth $35,089,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Shopify by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after acquiring an additional 781,162 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Shopify by 79.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after purchasing an additional 7,316,862 shares during the period. Norges Bank bought a new position in shares of Shopify during the fourth quarter valued at approximately $1,542,262,000. National Bank of Canada FI lifted its holdings in shares of Shopify by 28.0% during the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after purchasing an additional 1,621,981 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Shopify by 30.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock worth $754,201,000 after purchasing an additional 1,647,374 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Down 6.6 %

SHOP stock opened at $76.89 on Friday. The business’s 50-day moving average price is $108.67 and its 200-day moving average price is $101.41. The stock has a market cap of $99.56 billion, a P/E ratio of 49.61, a PEG ratio of 4.82 and a beta of 2.81. Shopify Inc. has a twelve month low of $48.56 and a twelve month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, equities research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, February 18th. Robert W. Baird raised their price target on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and issued a $125.00 price target on shares of Shopify in a research note on Tuesday, February 11th. Wells Fargo & Company raised their price objective on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.31.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.