Sava Infond d.o.o. Sells 600 Shares of Shopify Inc. $SHOP

Sava Infond d.o.o. decreased its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 46.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 700 shares of the software maker’s stock after selling 600 shares during the period. Sava Infond d.o.o.’s holdings in Shopify were worth $81,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Shopify by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker’s stock valued at $4,563,106,000 after purchasing an additional 882,168 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Shopify by 19.7% in the 1st quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock valued at $822,745,000 after purchasing an additional 1,426,406 shares during the last quarter. Nuveen LLC bought a new position in Shopify in the 1st quarter valued at approximately $667,392,000. Canada Pension Plan Investment Board lifted its stake in Shopify by 34.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock valued at $565,504,000 after purchasing an additional 1,522,573 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Shopify by 21.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,649,162 shares of the software maker’s stock valued at $539,382,000 after purchasing an additional 979,598 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wedbush upped their price target on shares of Shopify from $115.00 to $160.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. TD Cowen restated a “hold” rating and issued a $156.00 price target on shares of Shopify in a research report on Friday. Benchmark restated a “buy” rating and issued a $140.00 price target (up from $125.00) on shares of Shopify in a research report on Tuesday, August 5th. Evercore ISI upped their price target on shares of Shopify from $120.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, ATB Capital cut shares of Shopify to a “sector perform” rating in a research report on Thursday, August 7th. Twenty-two equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Shopify presently has a consensus rating of “Hold” and a consensus price target of $150.59.

Shopify Trading Up 6.5%

NASDAQ:SHOP opened at $161.14 on Friday. The stock has a market capitalization of $209.43 billion, a price-to-earnings ratio of 90.02, a PEG ratio of 7.64 and a beta of 2.72. The firm has a fifty day simple moving average of $142.78 and a two-hundred day simple moving average of $117.23. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $162.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Shopify had a net margin of 23.42% and a return on equity of 12.30%. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the company posted $0.26 earnings per share. The business’s quarterly revenue was up 31.1% on a year-over-year basis. Equities analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Shopify Company Profile

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.