Shopify Inc. $SHOP Position Lowered by Privium Fund Management B.V.

Privium Fund Management B.V. lowered its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.5% in the third quarter, HoldingsChannel reports. The firm owned 415,000 shares of the software maker’s stock after selling 15,000 shares during the period. Shopify makes up about 11.1% of Privium Fund Management B.V.’s portfolio, making the stock its 3rd biggest holding. Privium Fund Management B.V.’s holdings in Shopify were worth $61,673,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHOP. Norges Bank acquired a new stake in shares of Shopify during the 2nd quarter worth approximately $1,794,952,000. Jennison Associates LLC increased its stake in Shopify by 64.3% during the third quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock worth $2,812,211,000 after acquiring an additional 7,403,821 shares during the last quarter. Brown Advisory Inc. raised its position in Shopify by 5,193.6% in the second quarter. Brown Advisory Inc. now owns 2,066,884 shares of the software maker’s stock valued at $238,419,000 after purchasing an additional 2,027,839 shares during the period. Geode Capital Management LLC raised its position in Shopify by 19.9% in the second quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock valued at $1,247,007,000 after purchasing an additional 1,781,530 shares during the period. Finally, Picton Mahoney Asset Management lifted its stake in shares of Shopify by 246,359.0% in the 2nd quarter. Picton Mahoney Asset Management now owns 1,759,717 shares of the software maker’s stock valued at $202,146,000 after purchasing an additional 1,759,003 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on SHOP shares. Truist Financial set a $155.00 price objective on shares of Shopify and gave the company a “hold” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. upped their price objective on shares of Shopify from $179.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Benchmark reiterated a “buy” rating on shares of Shopify in a report on Wednesday, December 3rd. BNP Paribas Exane initiated coverage on Shopify in a research report on Monday, November 24th. They issued a “neutral” rating on the stock. Finally, Robert W. Baird raised their price target on Shopify from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Twenty-four equities research analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $171.61.

Shopify Stock Performance

SHOP stock opened at $131.23 on Friday. The company’s 50 day moving average price is $158.37 and its 200 day moving average price is $151.06. The firm has a market capitalization of $170.84 billion, a price-to-earnings ratio of 97.21, a PEG ratio of 4.23 and a beta of 2.83. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Equities analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.