Marsico Capital Management LLC Has $6.89 Million Stock Position in Shopify Inc. $SHOP

Marsico Capital Management LLC reduced its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 53.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 42,818 shares of the software maker’s stock after selling 48,809 shares during the period. Marsico Capital Management LLC’s holdings in Shopify were worth $6,892,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SHOP. Brighton Jones LLC increased its stake in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after buying an additional 584 shares during the period. AQR Capital Management LLC increased its stake in shares of Shopify by 107.3% in the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after buying an additional 7,544 shares during the period. Sivia Capital Partners LLC increased its stake in shares of Shopify by 6.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock valued at $945,000 after buying an additional 506 shares during the period. Osterweis Capital Management Inc. acquired a new stake in shares of Shopify in the 2nd quarter valued at $53,000. Finally, Main Street Financial Solutions LLC increased its stake in shares of Shopify by 15.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock valued at $1,284,000 after buying an additional 1,479 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on SHOP. Jefferies Financial Group reissued a “hold” rating and issued a $140.00 target price (down from $150.00) on shares of Shopify in a research note on Tuesday, May 5th. Canaccord Genuity Group lowered their target price on Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. DZ Bank raised Shopify from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. National Bank Financial lowered their target price on Shopify from $200.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Finally, Truist Financial set a $150.00 target price on Shopify and gave the company a “buy” rating in a research note on Tuesday, February 17th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.17.

Shopify Price Performance

Shares of Shopify stock opened at $110.47 on Friday. The firm has a market cap of $143.35 billion, a price-to-earnings ratio of 109.38, a price-to-earnings-growth ratio of 3.03 and a beta of 2.60. The stock’s 50-day moving average is $114.20 and its 200-day moving average is $131.77. Shopify Inc. has a one year low of $94.00 and a one year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $3.08 billion. On average, equities analysts expect that Shopify Inc. will post 1.36 EPS for the current year.

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.