Shopify Inc. (NYSE:SHOP) Shares Sold by Nepsis Inc.

Nepsis Inc. reduced its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 72.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,444 shares of the software maker’s stock after selling 233,815 shares during the period. Shopify comprises about 1.4% of Nepsis Inc.’s portfolio, making the stock its 18th biggest holding. Nepsis Inc.’s holdings in Shopify were worth $9,511,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its position in shares of Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares in the last quarter. FMR LLC lifted its holdings in Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Shopify by 49.9% in the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after purchasing an additional 2,102,939 shares during the period. Clearbridge Investments LLC increased its stake in shares of Shopify by 54.2% during the second quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock worth $311,404,000 after purchasing an additional 1,657,251 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in Shopify by 28.0% in the 3rd quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after buying an additional 1,621,981 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Canaccord Genuity Group boosted their price objective on Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Oppenheimer lifted their target price on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 target price on shares of Shopify in a research report on Monday, October 7th. Finally, Wells Fargo & Company boosted their price target on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.31.

Shopify Price Performance

Shares of NYSE SHOP opened at $107.74 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The company has a market cap of $139.22 billion, a price-to-earnings ratio of 100.70, a price-to-earnings-growth ratio of 2.24 and a beta of 2.46. The stock’s 50-day moving average is $109.38 and its two-hundred day moving average is $86.64. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $120.72.

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.