Infusive Asset Management Inc. Has $5.51 Million Stake in Shopify Inc. $SHOP

Infusive Asset Management Inc. trimmed its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,237 shares of the software maker’s stock after selling 4,898 shares during the quarter. Shopify accounts for 2.4% of Infusive Asset Management Inc.’s portfolio, making the stock its 18th largest position. Infusive Asset Management Inc.’s holdings in Shopify were worth $5,511,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SHOP. Norges Bank acquired a new position in shares of Shopify in the fourth quarter valued at $2,611,797,000. Thrivent Financial for Lutherans raised its stake in shares of Shopify by 7,207.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock valued at $184,883,000 after purchasing an additional 1,132,545 shares in the last quarter. Select Equity Group L.P. raised its stake in shares of Shopify by 92.5% in the second quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock valued at $259,124,000 after purchasing an additional 1,079,494 shares in the last quarter. Steadfast Capital Management LP acquired a new position in shares of Shopify in the third quarter valued at $140,930,000. Finally, ICONIQ Capital LLC raised its stake in shares of Shopify by 47.3% in the fourth quarter. ICONIQ Capital LLC now owns 2,456,052 shares of the software maker’s stock valued at $395,351,000 after purchasing an additional 788,450 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHOP has been the subject of a number of recent research reports. Wells Fargo & Company cut their target price on Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. UBS Group reiterated a “neutral” rating on shares of Shopify in a research note on Thursday, May 28th. DA Davidson dropped their price objective on Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, Citigroup dropped their price objective on Shopify from $163.00 to $156.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.17.

Shopify Stock Performance

Shares of SHOP stock opened at $108.24 on Friday. The stock’s fifty day moving average is $113.99 and its 200-day moving average is $131.61. The stock has a market capitalization of $140.46 billion, a PE ratio of 107.17, a PEG ratio of 3.03 and a beta of 2.60. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping the consensus estimate 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 return on equity of 12.07% and a net margin of 10.77%. As a group, analysts forecast that Shopify Inc. will post 1.36 earnings per share 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.