Gavilan Investment Partners LLC Has $45.33 Million Position in Shopify Inc. $SHOP

Gavilan Investment Partners LLC lowered its stake in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 7.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 305,000 shares of the software maker’s stock after selling 25,000 shares during the period. Shopify makes up 10.1% of Gavilan Investment Partners LLC’s portfolio, making the stock its 3rd largest holding. Gavilan Investment Partners LLC’s holdings in Shopify were worth $45,326,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Financial Gravity Companies Inc. bought a new stake in shares of Shopify during the second quarter worth approximately $27,000. Rothschild Investment LLC increased its stake in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after purchasing an additional 75 shares during the period. Heartwood Wealth Advisors LLC bought a new position in shares of Shopify during the third quarter worth approximately $27,000. Estabrook Capital Management acquired a new stake in Shopify during the 2nd quarter worth approximately $29,000. Finally, Vestor Capital LLC acquired a new stake in Shopify during the 2nd quarter worth approximately $34,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on SHOP. Royal Bank Of Canada set a $170.00 price objective on Shopify and gave the company an “outperform” rating in a report on Thursday, February 12th. Canaccord Genuity Group set a $165.00 target price on Shopify and gave the stock a “buy” rating in a report on Thursday, February 12th. Raymond James Financial reissued a “market perform” rating on shares of Shopify in a research report on Monday, December 1st. Citigroup restated a “buy” rating and issued a $172.00 price target (down from $195.00) on shares of Shopify in a research note on Friday, February 13th. Finally, TD Securities raised shares of Shopify from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $162.64.

Shopify Stock Down 3.4%

NASDAQ:SHOP opened at $130.20 on Monday. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19. The stock’s 50-day simple moving average is $137.30 and its 200 day simple moving average is $149.14. The firm has a market capitalization of $169.50 billion, a PE ratio of 140.00, a price-to-earnings-growth ratio of 4.67 and a beta of 2.83.

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.