Capital Research Global Investors Reduces Stock Holdings in Shopify Inc. $SHOP

Capital Research Global Investors decreased its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,512,437 shares of the software maker’s stock after selling 345,414 shares during the period. Capital Research Global Investors owned 0.73% of Shopify worth $1,413,655,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SHOP. Twin Peaks Wealth Advisors LLC lifted its holdings in Shopify by 1.7% in the third quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock worth $512,000 after acquiring an additional 59 shares during the last quarter. Accurate Wealth Management LLC grew its holdings in shares of Shopify by 2.0% in the 3rd quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock worth $526,000 after acquiring an additional 67 shares during the last quarter. Moloney Securities Asset Management LLC increased its position in shares of Shopify by 1.8% in the third quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock worth $587,000 after acquiring an additional 70 shares in the last quarter. Rothschild Investment LLC boosted its stake in Shopify by 47.5% in the 2nd 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. Finally, Sivia Capital Partners LLC increased its stake in shares of Shopify by 0.9% in the third quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock worth $1,228,000 after acquiring an additional 75 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Up 2.5%

Shopify stock opened at $133.50 on Tuesday. The stock has a market cap of $173.80 billion, a PE ratio of 143.55, a P/E/G ratio of 4.67 and a beta of 2.83. The business’s 50-day moving average price is $136.61 and its two-hundred day moving average price is $149.12. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Oppenheimer reissued an “outperform” rating on shares of Shopify in a report on Monday, December 1st. Arete Research set a $175.00 target price on Shopify in a report on Monday, February 2nd. Citigroup reiterated a “buy” rating and issued a $172.00 price objective (down from $195.00) on shares of Shopify in a research report on Friday, February 13th. Benchmark cut their price target on Shopify from $195.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Finally, BMO Capital Markets set a $160.00 target price on Shopify in a research note on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.33.

About Shopify

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.