Shopify Inc. (NYSE:SHOP) Shares Sold by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. cut its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 76.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,633 shares of the software maker’s stock after selling 208,763 shares during the period. Capital Group Private Client Services Inc.’s holdings in Shopify were worth $4,911,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its stake in shares of Shopify by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after buying an additional 1,419,749 shares during the period. Vanguard Group Inc. raised its position in Shopify by 1.7% during the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after acquiring an additional 713,064 shares during the period. Capital World Investors lifted its holdings in Shopify by 28.7% during the fourth quarter. Capital World Investors now owns 39,424,769 shares of the software maker’s stock valued at $3,071,197,000 after purchasing an additional 8,789,411 shares in the last quarter. GQG Partners LLC grew its position in shares of Shopify by 197.9% in the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after purchasing an additional 13,885,473 shares during the period. Finally, Capital International Investors increased its stake in shares of Shopify by 9.7% during the fourth quarter. Capital International Investors now owns 15,849,638 shares of the software maker’s stock worth $1,235,534,000 after purchasing an additional 1,399,562 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Price Performance

Shares of SHOP traded up $0.48 on Friday, reaching $59.92. The stock had a trading volume of 5,253,154 shares, compared to its average volume of 10,005,120. The firm has a 50-day moving average of $63.02 and a 200 day moving average of $71.38. The firm has a market capitalization of $77.22 billion, a PE ratio of -352.47, a PEG ratio of 3.44 and a beta of 2.30. Shopify Inc. has a twelve month low of $45.50 and a twelve month high of $91.57. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Sell-side analysts expect that Shopify Inc. will post 0.62 EPS for the current year.

Analyst Upgrades and Downgrades

SHOP has been the subject of several research reports. Robert W. Baird dropped their price target on Shopify from $87.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a research report on Thursday, May 9th. BNP Paribas upgraded shares of Shopify from an “underperform” rating to an “outperform” rating in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft cut their price target on Shopify from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Moffett Nathanson lowered Shopify from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $74.00 to $65.00 in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.62.

Shopify Company 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.