Shopify Inc. $SHOP Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lessened its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 40.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,874 shares of the software maker’s stock after selling 63,962 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Shopify were worth $15,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Kingdom Financial Group LLC. purchased a new stake in shares of Shopify in the fourth quarter valued at about $26,000. Curio Wealth LLC purchased a new stake in shares of Shopify in the fourth quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Shopify in the fourth quarter valued at about $29,000. Lodestone Wealth Management LLC purchased a new stake in shares of Shopify in the fourth quarter valued at about $31,000. Finally, Sound Income Strategies LLC raised its holdings 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 valued at $31,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SHOP shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Shopify in a report on Wednesday, May 6th. Stifel Nicolaus set a $115.00 target price on shares of Shopify and gave the company a “hold” rating in a report on Wednesday, February 11th. ATB Cormark Capital Markets raised shares of Shopify from a “sector perform” rating to an “outperform” rating in a report on Tuesday, February 10th. Evercore set a $135.00 target price on shares of Shopify in a report on Wednesday, February 11th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Shopify in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $157.17.

Shopify Stock Up 2.7%

NASDAQ SHOP opened at $116.04 on Friday. The stock has a market capitalization of $150.58 billion, a P/E ratio of 114.89, a P/E/G ratio of 3.17 and a beta of 2.60. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The firm has a 50-day moving average price of $114.73 and a 200 day moving average price of $132.97.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly 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. The firm had revenue of $3.17 billion during 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%. On average, equities research analysts expect that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Shopify 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.