Marshall Wace LLP Sells 973,427 Shares of Shopify Inc. $SHOP

Marshall Wace LLP lessened its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 61.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 599,948 shares of the software maker’s stock after selling 973,427 shares during the quarter. Marshall Wace LLP’s holdings in Shopify were worth $69,204,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC acquired a new stake in Shopify during the second quarter worth approximately $25,000. Financial Gravity Companies Inc. acquired a new stake in shares of Shopify during the 2nd quarter worth approximately $27,000. Rothschild Investment LLC raised its holdings in Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Tradewinds Capital Management LLC grew its stake in shares of Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Finally, Coastline Trust Co acquired a new position in shares of Shopify in the 2nd quarter worth approximately $29,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SHOP. KeyCorp raised their price objective on shares of Shopify from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Benchmark reissued a “buy” rating on shares of Shopify in a research report on Wednesday. BMO Capital Markets lifted their price target on Shopify from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. BNP Paribas assumed coverage on Shopify in a research note on Monday, November 24th. They issued a “neutral” rating for the company. Finally, BNP Paribas Exane initiated coverage on Shopify in a research report on Monday, November 24th. They set a “neutral” rating for the company. Twenty-two equities research analysts have rated the stock with a Buy rating and twenty-four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $166.53.

Shopify Trading Down 0.8%

Shares of Shopify stock opened at $161.08 on Friday. The company’s 50-day moving average price is $158.48 and its 200-day moving average price is $137.48. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19. The company has a market cap of $209.70 billion, a price-to-earnings ratio of 119.32, a PEG ratio of 6.03 and a beta of 2.82.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. On average, sell-side analysts predict that Shopify Inc. will post 1.12 earnings per share for the current year.

About Shopify

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.