Shopify Inc. (NYSE:SHOP) Shares Sold by Marsico Capital Management LLC

Marsico Capital Management LLC reduced its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 62.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,022 shares of the software maker’s stock after selling 193,409 shares during the period. Marsico Capital Management LLC’s holdings in Shopify were worth $7,795,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norden Group LLC purchased a new stake in shares of Shopify during the 1st quarter worth $3,618,000. Silvercrest Asset Management Group LLC lifted its position in shares of Shopify by 735.0% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after buying an additional 46,589 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Shopify by 5.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock valued at $40,838,000 after buying an additional 28,639 shares during the last quarter. FIL Ltd grew its position in shares of Shopify by 1.8% in the 4th quarter. FIL Ltd now owns 13,303,001 shares of the software maker’s stock valued at $1,035,688,000 after buying an additional 238,596 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Shopify by 1.7% during the 1st 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 in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Up 1.2 %

Shares of NYSE:SHOP opened at $74.48 on Wednesday. The stock has a 50-day simple moving average of $67.67 and a 200-day simple moving average of $68.27. The stock has a market capitalization of $95.98 billion, a P/E ratio of -438.12, a PEG ratio of 2.39 and a beta of 2.35. Shopify Inc. has a 1 year low of $45.50 and a 1 year high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the firm earned ($0.08) earnings per share. Shopify’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SHOP. Wolfe Research assumed coverage on Shopify in a research report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 target price on the stock. Argus raised Shopify to a “strong-buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group raised their target price on shares of Shopify from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, Cantor Fitzgerald started coverage on shares of Shopify in a research note on Thursday, September 5th. They set a “neutral” rating and a $70.00 price target on the stock. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.92.

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.