Shopify Inc. $SHOP Shares Sold by Mirova US LLC

Mirova US LLC lessened its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,882,479 shares of the software maker’s stock after selling 142,276 shares during the quarter. Shopify comprises about 4.3% of Mirova US LLC’s investment portfolio, making the stock its 6th largest position. Mirova US LLC owned approximately 0.22% of Shopify worth $428,365,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SHOP. Kieckhefer Group LLC bought a new stake in Shopify during the 3rd quarter worth about $245,000. Pure Financial Advisors LLC grew its position in shares of Shopify by 11.7% during the 3rd quarter. Pure Financial Advisors LLC now owns 3,868 shares of the software maker’s stock worth $575,000 after buying an additional 406 shares during the period. Annex Advisory Services LLC raised its stake in shares of Shopify by 9.1% during the third quarter. Annex Advisory Services LLC now owns 2,714 shares of the software maker’s stock worth $403,000 after buying an additional 226 shares during the last quarter. FFG Partners LLC acquired a new position in Shopify in the third quarter valued at approximately $7,473,000. Finally, Ethic Inc. boosted its stake in Shopify by 294.0% in the third quarter. Ethic Inc. now owns 7,971 shares of the software maker’s stock valued at $1,185,000 after acquiring an additional 5,948 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Canaccord Genuity Group upped their target price on shares of Shopify from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Oppenheimer reiterated an “outperform” rating on shares of Shopify in a report on Monday, December 1st. TD Cowen reaffirmed a “hold” rating and issued a $156.00 target price on shares of Shopify in a research note on Friday, October 3rd. Royal Bank Of Canada lifted their price target on Shopify from $170.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, National Bankshares boosted their price target on Shopify from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Twenty-two analysts have rated the stock with a Buy rating and twenty-three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Shopify presently has a consensus rating of “Hold” and a consensus target price of $168.69.

Shopify Price Performance

SHOP opened at $167.88 on Tuesday. The business has a fifty day simple moving average of $161.38 and a 200 day simple moving average of $144.62. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19. The company has a market capitalization of $218.55 billion, a PE ratio of 124.36, a price-to-earnings-growth ratio of 6.34 and a beta of 2.82.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Equities analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

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.