Soma Equity Partners LP Reduces Stake in Shopify Inc. (NYSE:SHOP)

Soma Equity Partners LP trimmed its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 11.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,018,547 shares of the software maker’s stock after selling 126,263 shares during the quarter. Shopify accounts for about 6.0% of Soma Equity Partners LP’s portfolio, making the stock its 8th biggest holding. Soma Equity Partners LP’s holdings in Shopify were worth $108,302,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SHOP. Capital World Investors boosted its holdings in Shopify by 0.9% during the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock worth $5,646,455,000 after buying an additional 496,982 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Shopify by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock valued at $5,010,721,000 after acquiring an additional 781,162 shares during the last quarter. FMR LLC boosted its stake in shares of Shopify by 3.4% during the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock worth $4,653,054,000 after acquiring an additional 1,426,000 shares in the last quarter. Capital International Investors boosted its stake in shares of Shopify by 2.7% during the 4th quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock worth $3,883,039,000 after acquiring an additional 968,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after acquiring an additional 7,316,862 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 1.1%

Shares of NYSE:SHOP opened at $110.21 on Friday. The stock has a market capitalization of $142.70 billion, a PE ratio of 71.10, a P/E/G ratio of 4.82 and a beta of 2.66. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $129.38. The firm has a fifty day moving average price of $93.94 and a 200 day moving average price of $103.52.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, sell-side analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SHOP has been the subject of several analyst reports. Scotiabank reduced their target price on Shopify from $120.00 to $90.00 and set a “sector perform” rating for the company in a report on Monday, April 28th. Canaccord Genuity Group upped their price objective on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Atb Cap Markets upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 8th. Morgan Stanley lifted their target price on shares of Shopify from $106.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada reduced their price target on shares of Shopify from $145.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.37.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.