Ratan Capital Management LP Has $2.12 Million Stock Holdings in Shopify Inc. (NYSE:SHOP)

Ratan Capital Management LP cut its holdings in shares of Shopify Inc. (NYSE:SHOPFree Report) (TSE:SHOP) by 45.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,200 shares of the software maker’s stock after selling 22,800 shares during the period. Shopify comprises approximately 1.4% of Ratan Capital Management LP’s portfolio, making the stock its 20th largest position. Ratan Capital Management LP’s holdings in Shopify were worth $2,119,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SHOP. Norges Bank acquired a new position in shares of Shopify in the 4th quarter worth approximately $1,049,089,000. Capital World Investors lifted its position in shares of Shopify by 28.7% in the 4th quarter. Capital World Investors now owns 39,424,769 shares of the software maker’s stock worth $3,071,197,000 after purchasing an additional 8,789,411 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of Shopify by 78.4% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock valued at $262,462,000 after acquiring an additional 2,113,773 shares during the period. Baillie Gifford & Co. lifted its position 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 valued at $4,998,476,000 after acquiring an additional 1,419,749 shares during the period. Finally, Capital International Investors lifted its position in shares of Shopify by 9.7% during the 4th quarter. Capital International Investors now owns 15,849,638 shares of the software maker’s stock valued at $1,235,534,000 after acquiring an additional 1,399,562 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Trading Up 0.2 %

Shares of Shopify stock traded up $0.13 on Friday, hitting $61.59. The stock had a trading volume of 7,099,220 shares, compared to its average volume of 11,824,416. The stock’s 50-day simple moving average is $66.49 and its two-hundred day simple moving average is $73.76. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The stock has a market cap of $79.37 billion, a price-to-earnings ratio of -362.24, a PEG ratio of 2.81 and a beta of 2.27. 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:SHOPGet Free Report) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. As a group, sell-side analysts predict that Shopify Inc. will post 0.59 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on SHOP shares. Barclays decreased their price target on shares of Shopify from $68.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Morgan Stanley upgraded shares of Shopify from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $74.00 to $85.00 in a research note on Friday, April 19th. Canaccord Genuity Group reduced their target price on shares of Shopify from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Citigroup reduced their target price on shares of Shopify from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Benchmark reiterated a “hold” rating on shares of Shopify in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $76.74.

Get Our Latest Report on SHOP

Shopify Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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