Shopify Inc. (NYSE:SHOP) is AtonRa Partners’ 3rd Largest Position

AtonRa Partners lowered its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 16.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,067 shares of the software maker’s stock after selling 2,317 shares during the quarter. Shopify accounts for 1.9% of AtonRa Partners’ investment portfolio, making the stock its 3rd largest holding. AtonRa Partners’ holdings in Shopify were worth $940,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Baillie Gifford & Co. increased its holdings in Shopify by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after buying an additional 1,419,749 shares in the last quarter. Vanguard Group Inc. raised its holdings in Shopify by 1.6% during the third quarter. Vanguard Group Inc. now owns 40,926,224 shares of the software maker’s stock worth $2,233,344,000 after purchasing an additional 634,883 shares during the last quarter. TD Asset Management Inc grew its holdings in Shopify by 4.4% in the third quarter. TD Asset Management Inc now owns 7,104,095 shares of the software maker’s stock valued at $389,052,000 after purchasing an additional 299,788 shares during the last quarter. Legal & General Group Plc grew its holdings in Shopify by 6.5% in the third quarter. Legal & General Group Plc now owns 6,196,285 shares of the software maker’s stock valued at $339,750,000 after purchasing an additional 377,901 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in shares of Shopify by 78.4% in the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock valued at $262,462,000 after buying an additional 2,113,773 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of SHOP traded up $1.13 during mid-day trading on Monday, hitting $72.46. The company’s stock had a trading volume of 10,103,827 shares, compared to its average volume of 9,347,372. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The firm has a market capitalization of $93.22 billion, a PE ratio of 808.56 and a beta of 2.22. The stock’s 50-day moving average is $75.28 and its two-hundred day moving average is $72.75.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. As a group, sell-side analysts anticipate that Shopify Inc. will post 0.58 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on SHOP. CIBC raised their target price on shares of Shopify from $82.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. DA Davidson raised their target price on shares of Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Roth Capital raised their target price on shares of Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. The Goldman Sachs Group raised their target price on shares of Shopify from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Finally, Barclays lowered their price target on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $78.62.

About Shopify

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.