Trillium Asset Management LLC Has $22.71 Million Position in Shopify Inc. $SHOP

Trillium Asset Management LLC lowered its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,147 shares of the software maker’s stock after selling 56,182 shares during the period. Trillium Asset Management LLC’s holdings in Shopify were worth $22,711,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SHOP. Brighton Jones LLC boosted its stake in Shopify by 2.8% during the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after buying an additional 584 shares in the last quarter. AQR Capital Management LLC boosted its stake in Shopify by 107.3% during the first quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after buying an additional 7,544 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Shopify by 6.6% during the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after buying an additional 506 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in Shopify during the second quarter worth $53,000. Finally, Main Street Financial Solutions LLC boosted its stake in Shopify by 15.3% during the second quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock worth $1,284,000 after buying an additional 1,479 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of NASDAQ:SHOP opened at $108.24 on Friday. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19. The company’s fifty day moving average is $113.99 and its 200-day moving average is $131.61. The company has a market capitalization of $140.46 billion, a PE ratio of 107.17, a P/E/G ratio of 3.10 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. On average, analysts forecast that Shopify Inc. will post 1.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $170.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Wells Fargo & Company reduced their target price on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. UBS Group restated a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. Finally, Piper Sandler restated an “overweight” rating and issued a $150.00 target price (down from $165.00) on shares of Shopify in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Shopify has an average rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Company 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.