Shopify Inc. $SHOP is Baillie Gifford & Co.’s 6th Largest Position

Baillie Gifford & Co. trimmed its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 6.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,443,787 shares of the software maker’s stock after selling 2,304,285 shares during the quarter. Shopify makes up about 3.9% of Baillie Gifford & Co.’s portfolio, making the stock its 6th biggest position. Baillie Gifford & Co. owned 2.73% of Shopify worth $5,267,301,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SHOP. Mirae Asset Global Investments Co. Ltd. grew its stake in Shopify by 171.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock worth $48,827,000 after buying an additional 267,271 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Shopify by 4.4% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,231,257 shares of the software maker’s stock worth $603,425,000 after acquiring an additional 218,829 shares in the last quarter. TriaGen Wealth Management LLC acquired a new stake in Shopify in the third quarter worth about $2,562,000. Triasima Portfolio Management inc. grew its stake in shares of Shopify by 22.4% during the third quarter. Triasima Portfolio Management inc. now owns 164,310 shares of the software maker’s stock worth $24,416,000 after acquiring an additional 30,061 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Shopify by 9.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 400,389 shares of the software maker’s stock valued at $46,185,000 after acquiring an additional 35,113 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Stock Performance

NASDAQ SHOP opened at $137.89 on Friday. The firm has a market capitalization of $179.51 billion, a P/E ratio of 102.14, a PEG ratio of 4.07 and a beta of 2.83. The stock has a 50-day simple moving average of $159.00 and a two-hundred day simple moving average of $150.25. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. As a group, analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on SHOP. Needham & Company LLC reiterated a “buy” rating and issued a $180.00 target price on shares of Shopify in a research note on Wednesday, November 5th. DA Davidson lifted their price objective on shares of Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Wolfe Research upgraded Shopify from a “hold” rating to an “outperform” rating in a research note on Tuesday, January 6th. Robert W. Baird lifted their price target on Shopify from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Finally, National Bankshares increased their price objective on Shopify from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Twenty-four research analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $171.61.

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.