Natixis Advisors L.P. Reduces Stock Position in Shopify Inc. (NYSE:SHOP)

Natixis Advisors L.P. reduced its stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 3.8% during the 4th quarter, HoldingsChannel reports. The fund owned 1,010,757 shares of the software maker’s stock after selling 40,183 shares during the period. Natixis Advisors L.P.’s holdings in Shopify were worth $78,737,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SHOP. Artisan Partners Limited Partnership lifted its stake in Shopify by 78.4% in the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock worth $262,462,000 after purchasing an additional 2,113,773 shares during the last quarter. Baillie Gifford & Co. lifted 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 acquiring an additional 1,419,749 shares during the last quarter. Quadrature Capital Ltd bought a new position in Shopify in the 3rd quarter valued at $68,746,000. International Assets Investment Management LLC increased its stake in Shopify by 6,637.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,188,598 shares of the software maker’s stock worth $92,592,000 after buying an additional 1,170,956 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Shopify during the third quarter worth approximately $49,113,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Price Performance

Shares of Shopify stock traded up $2.47 during trading hours on Friday, reaching $74.47. 7,342,075 shares of the company’s stock were exchanged, compared to its average volume of 9,243,041. The business has a fifty day moving average of $74.77 and a two-hundred day moving average of $73.00. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $95.81 billion, a P/E ratio of 827.54 and a beta of 2.20. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. As a group, research analysts predict that Shopify Inc. will post 0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SHOP has been the topic of several research analyst reports. Barclays dropped their price objective on Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 14th. Scotiabank raised their price target on Shopify from $70.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday. UBS Group increased their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 target price on shares of Shopify in a research report on Wednesday, February 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Shopify from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $79.03.

Shopify 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.