Shopify Inc. (NYSE:SHOP) Shares Sold by First Bank & Trust

First Bank & Trust cut its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 52.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,960 shares of the software maker’s stock after selling 5,580 shares during the period. First Bank & Trust’s holdings in Shopify were worth $383,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SHOP. Norges Bank acquired a new stake in Shopify in the fourth quarter valued at $1,049,089,000. Capital World Investors increased its stake in 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Shopify by 118.9% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,382,000 shares of the software maker’s stock valued at $263,452,000 after purchasing an additional 1,837,000 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in Shopify by 33.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 6,416,115 shares of the software maker’s stock valued at $499,815,000 after purchasing an additional 1,606,482 shares during the last quarter. Finally, Baillie Gifford & Co. increased its stake in 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 during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on SHOP. Canaccord Genuity Group lowered 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. Piper Sandler upgraded shares of Shopify from an “underweight” rating to a “neutral” rating and set a $63.00 target price for the company in a research note on Thursday, May 9th. TD Securities dropped their price objective on shares of Shopify from $80.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Loop Capital dropped their price objective on shares of Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Finally, StockNews.com raised shares of Shopify from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $76.42.

Shopify Stock Performance

Shares of SHOP opened at $66.05 on Friday. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The company has a 50-day moving average of $64.20 and a two-hundred day moving average of $73.01. The stock has a market cap of $85.12 billion, a price-to-earnings ratio of -388.53, a PEG ratio of 3.32 and a beta of 2.27. 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 (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.84 billion. On average, equities research analysts expect that Shopify Inc. will post 0.61 earnings per share for the current 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.