Capital International Sarl Grows Holdings in Shopify Inc. $SHOP

Capital International Sarl increased its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 9.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 695,042 shares of the software maker’s stock after buying an additional 58,557 shares during the period. Shopify makes up about 1.8% of Capital International Sarl’s portfolio, making the stock its 10th biggest position. Capital International Sarl’s holdings in Shopify were worth $111,881,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kingdom Financial Group LLC. acquired a new position in shares of Shopify in the fourth quarter worth approximately $26,000. Curio Wealth LLC acquired a new position in shares of Shopify in the fourth quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Shopify in the fourth quarter worth approximately $29,000. Lodestone Wealth Management LLC acquired a new position in shares of Shopify in the fourth quarter worth approximately $31,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Shopify by 82.4% in the fourth quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after acquiring an additional 89 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Down 5.6%

Shares of NASDAQ:SHOP opened at $109.54 on Friday. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The stock’s 50 day moving average is $114.55 and its 200-day moving average is $132.80. The firm has a market capitalization of $142.15 billion, a price-to-earnings ratio of 108.46, a PEG ratio of 3.07 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Equities research analysts anticipate that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. TD Cowen raised Shopify from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research note on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $175.00 price target on shares of Shopify in a research note on Thursday, February 12th. Wells Fargo & Company dropped their price target on Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. TD Securities raised Shopify from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $170.00 price target on shares of Shopify in a research note on Wednesday, May 6th. 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.17.

About Shopify

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.