Shopify Inc. (NYSE:SHOP) is Gavilan Investment Partners LLC’s 3rd Largest Position

Gavilan Investment Partners LLC lessened its position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 17.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 330,000 shares of the software maker’s stock after selling 71,000 shares during the period. Shopify accounts for 9.7% of Gavilan Investment Partners LLC’s investment portfolio, making the stock its 3rd largest position. Gavilan Investment Partners LLC’s holdings in Shopify were worth $35,089,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SHOP. MIG Capital LLC bought a new position in Shopify in the 4th quarter worth approximately $333,000. Atika Capital Management LLC purchased a new stake in shares of Shopify during the fourth quarter worth $6,486,000. Russell Investments Group Ltd. boosted its holdings in shares of Shopify by 1.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,438,704 shares of the software maker’s stock worth $153,027,000 after acquiring an additional 26,240 shares during the period. Ted Buchan & Co purchased a new position in shares of Shopify in the fourth quarter valued at $1,311,000. Finally, Wedbush Securities Inc. raised its stake in shares of Shopify by 1.0% during the 4th quarter. Wedbush Securities Inc. now owns 25,304 shares of the software maker’s stock valued at $2,691,000 after purchasing an additional 247 shares during the period. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SHOP shares. Canaccord Genuity Group raised their target price on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley raised their price target on shares of Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Citigroup upped their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. lifted their price objective on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, New Street Research initiated coverage on Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Trading Down 6.6 %

Shares of NYSE:SHOP opened at $76.89 on Friday. The company has a 50-day moving average price of $108.67 and a 200-day moving average price of $101.41. The company has a market cap of $99.56 billion, a price-to-earnings ratio of 49.61, a price-to-earnings-growth ratio of 4.82 and a beta of 2.81. Shopify Inc. has a 12 month low of $48.56 and a 12 month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, research analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

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.