Shopify Inc. $SHOP Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB lowered its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 67.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 204,665 shares of the software maker’s stock after selling 421,885 shares during the quarter. AMF Tjanstepension AB’s holdings in Shopify were worth $30,415,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Norges Bank purchased a new stake in Shopify during the second quarter worth approximately $1,794,952,000. Jennison Associates LLC lifted its holdings in shares of Shopify by 64.3% during the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock valued at $2,812,211,000 after acquiring an additional 7,403,821 shares in the last quarter. Brown Advisory Inc. lifted its holdings in shares of Shopify by 5,193.6% during the 2nd quarter. Brown Advisory Inc. now owns 2,066,884 shares of the software maker’s stock valued at $238,419,000 after acquiring an additional 2,027,839 shares in the last quarter. Geode Capital Management LLC boosted its position in Shopify by 19.9% during the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after purchasing an additional 1,781,530 shares during the period. Finally, Picton Mahoney Asset Management boosted its position in Shopify by 246,359.0% during the 2nd quarter. Picton Mahoney Asset Management now owns 1,759,717 shares of the software maker’s stock worth $202,146,000 after purchasing an additional 1,759,003 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Up 0.2%

Shopify stock opened at $137.89 on Friday. The stock has a market cap of $179.51 billion, a P/E ratio of 102.14, a price-to-earnings-growth ratio of 4.08 and a beta of 2.83. The stock has a 50 day moving average of $159.00 and a 200-day moving average of $150.51. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on SHOP shares. JPMorgan Chase & Co. raised their price objective on Shopify from $179.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Robert W. Baird increased their target price on Shopify from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Wells Fargo & Company reiterated an “overweight” rating and set a $198.00 target price (up from $125.00) on shares of Shopify in a report on Wednesday, December 17th. Citigroup reissued a “market outperform” rating on shares of Shopify in a research report on Thursday, December 4th. Finally, UBS Group set a $195.00 price objective on shares of Shopify in a research report on Wednesday, December 3rd. Twenty-four investment analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the company. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average price target of $171.61.

Shopify 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.