Shopify Inc. $SHOP is Steadview Capital Management LLC’s 5th Largest Position

Steadview Capital Management LLC lessened its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 21.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 252,554 shares of the software maker’s stock after selling 67,110 shares during the quarter. Shopify makes up about 7.7% of Steadview Capital Management LLC’s portfolio, making the stock its 5th biggest holding. Steadview Capital Management LLC’s holdings in Shopify were worth $40,654,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. Brighton Jones LLC increased its holdings in Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after acquiring an additional 584 shares in the last quarter. AQR Capital Management LLC increased its holdings in Shopify by 107.3% in the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after acquiring an additional 7,544 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Shopify by 6.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after acquiring an additional 506 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in Shopify in the 2nd quarter worth $53,000. Finally, Main Street Financial Solutions LLC increased its holdings in Shopify by 15.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock worth $1,284,000 after acquiring an additional 1,479 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SHOP shares. Robert W. Baird set a $150.00 target price on shares of Shopify in a research note on Wednesday, May 6th. UBS Group set a $130.00 target price on shares of Shopify and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Citizens Jmp lowered their target price on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 6th. TD Cowen raised shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research note on Wednesday, February 11th. Finally, Phillip Securities raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Two 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.42.

Shopify Price Performance

NASDAQ SHOP opened at $103.00 on Friday. The firm’s 50-day moving average is $116.29 and its two-hundred day moving average is $135.86. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The stock has a market capitalization of $133.66 billion, a P/E ratio of 101.98, a PEG ratio of 2.94 and a beta of 2.64.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. As a group, analysts anticipate 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.