CHURCHILL MANAGEMENT Corp Sells 2,460 Shares of Shopify Inc. (NYSE:SHOP)

CHURCHILL MANAGEMENT Corp reduced its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 9.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,356 shares of the software maker’s stock after selling 2,460 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Shopify were worth $1,725,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SHOP. Baillie Gifford & Co. increased its stake in shares of Shopify by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after purchasing an additional 1,419,749 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Shopify by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 42,168,291 shares of the software maker’s stock valued at $3,284,910,000 after purchasing an additional 1,242,067 shares in the last quarter. Capital World Investors increased its stake in shares of 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. 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 valued at $1,235,534,000 after purchasing an additional 1,399,562 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Shopify during the fourth quarter valued at approximately $1,049,089,000. 69.27% of the stock is owned by institutional investors.

Shopify Stock Up 1.8 %

Shares of SHOP stock opened at $65.03 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a market capitalization of $83.80 billion, a price-to-earnings ratio of -382.53, a PEG ratio of 3.21 and a beta of 2.27. The company’s fifty day moving average price is $64.57 and its 200-day moving average price is $73.24.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 company 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 0.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SHOP shares. Canaccord Genuity Group decreased 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. JPMorgan Chase & Co. initiated coverage on shares of Shopify in a research report on Tuesday, June 11th. They set an “overweight” rating and a $74.00 price target for the company. Loop Capital reduced their price target on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, April 15th. The Goldman Sachs Group raised their price target on shares of Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Evercore raised shares of Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 price target for the company in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $76.39.

About Shopify

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.