Shopify Inc. $SHOP Stock Position Lessened by Marsico Capital Management LLC

Marsico Capital Management LLC decreased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 53.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,818 shares of the software maker’s stock after selling 48,809 shares during the quarter. Marsico Capital Management LLC’s holdings in Shopify were worth $6,892,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SHOP. Kingdom Financial Group LLC. acquired a new position in Shopify during the fourth quarter valued at $26,000. Curio Wealth LLC acquired a new position in Shopify during the fourth quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shopify during the fourth quarter valued at $29,000. Lodestone Wealth Management LLC acquired a new position in Shopify during the fourth quarter valued at $31,000. Finally, Sound Income Strategies LLC raised its position in Shopify by 82.4% during 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 period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP opened at $110.47 on Friday. The stock has a fifty day moving average price of $114.20 and a two-hundred day moving average price of $131.77. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The company has a market cap of $143.35 billion, a price-to-earnings ratio of 109.38, a PEG ratio of 3.03 and a beta of 2.60.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. As a group, research analysts predict that Shopify Inc. will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SHOP has been the topic of several research reports. Citizens Jmp dropped their target price on Shopify from $160.00 to $150.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. Citigroup lowered their price objective on Shopify from $163.00 to $156.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. DA Davidson lowered their price objective on Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Piper Sandler reissued an “overweight” rating and set a $150.00 price objective (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Finally, Canaccord Genuity Group lowered their price objective on Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $157.17.

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.