During the third quarter, HBK Sorce Advisory LLC decreased its holdings in Shopify INC (NYSE: SHOP) (TSE: SHOP), as stated in the most recent Form 13F filing that the company made with the Securities and Exchange Commission.
After the sale of 3,809 shares throughout the time frame, the company had 8,531 shares of the software maker’s stock in its possession.
It was estimated that HBK Source Consulting LLC’s investment in Shopify was worth $230,000 as of the end of the most recent financial period.
There have also been transactions involving purchases and sales of corporate stock by other institutional investors and hedge funds.
During the third quarter, Baillie Gifford & Co increased the amount of Shopify stock owned by 13.1%, bringing its total ownership percentage to 100%.
Baillie Gifford & Co now owns 64,511,049 shares of the software maker’s stock after purchasing an additional 7,465,746 shares during the most recent period.
The stock is currently valued at $1,737,944,000. Sands Capital Management LLC saw a rise of 1,007.4% during the second quarter in the percentage of Shopify shares it owned, thanks to the company’s acquisition of additional shares. Sands Capital Management LLC now has 23,560,742 shares of the software manufacturer’s stock after purchasing an additional 21,433,161 shares.
The stock is currently valued at $736,038,000.
During the second quarter, Loomis Sayles & Co L.P.
Accomplished an increase in its ownership stake in Shopify that amounted to 1,170.5% overall.
Loomis Sayles & Co L.P. now has a total of 15,731,416 shares of the software developer’s stock, estimated at $491,450,000 after making additional purchases of 14,493,237 shares during the period in question.
These shares have an estimated value of $491,450,000.
The number of Shopify shares WCM Investment Management LLC could call its own increased by 714.9 percent during the second quarter. WCM Investment Management LLC now has 14,775,238 shares of the software developer’s stock, which have an estimated value of $488,322,000 following the purchase of an additional 12,964,310 shares during the period in question.
Last but not least, during the third quarter, ARK Investment Management LLC made a staggering increase of 1,097.6% in the Shopify stock it owned, making it the company with the largest percentage ownership increase.
ARK Investment Management LLC now owns 14,532,528 shares of the software developer’s stock, which have a value of $391,506,000 following the purchase of an additional 13,319,042 shares during the period in question.
These shares have a value of $391,506,000.
Institutional investors and hedge funds have purchased 56.31 percent of the total number of shares issued by the company.
These investors hold the company’s shares.
On Friday, SHOP began trading for the first time for $42.38. Overall, the debt-to-equity ratio comes in at 0.17, the quick ratio at 7.07, and the current ratio at 7.07.
The company’s stock carries a price-to-earnings ratio of -15.52 and a beta value of 1.98.
The market capitalization of the company’s stock is $53.52 billion.
The all-time high and all-time low for Shopify INC during the past year are the same amount: $79.00.
The company’s moving average over the past 50 days is $41.83, and the moving average over the past 200 days is, respectively, $36.49.
Various research firms have produced reports on SHOP over the past few months.
In a research report released on Thursday, January 19th, Truist Financial upgraded Shopify from a “hold” rating to a “buy” rating and raised their target price on the stock from $35.00 to $41.00.
The report was published in response to the company’s announcement that it would be increasing its target price on the stock.
A “sell” rating was assigned to the company Shopify in an article published by StockNews.com on February 2nd and discussed the company’s research findings. Citigroup stated in a research note published on Friday, February 17th, that they would be downgrading their rating of the Shopify company to “neutral” and lowering their price objective on Shopify shares from $54.00 to $50.00.
Additionally, they announced that they would lower their price objective on Shopify shares from $54.00 to $50.00.
In a research note released on Monday, January 30th, Roth Capital raised their price objective for Shopify from $38.00 to $56.00 and upgraded the company from “neutral” to “buy.” Both of these changes were made to Shopify.
In the end, a research note was released by UBS Group on December 8th, signaling the beginning of its coverage of Shopify shares.
They suggested that investors “sell” their company shares and projected that the stock’s price would reach $30.00 within the next month. Four analysts think the stock should be sold, seventeen should be held, and fourteen believe it should be bought.
According to information from the website Bloomberg.com, the company currently receives an average ” Hold ” recommendation and has set a target price of $47.53.
Shopify, INC is a company that caters to the needs of small and medium-sized businesses by providing them with a web-based e-commerce platform. Retailers use its software to manage their company operations across all available sales channels in their respective markets.
Traditional storefronts (brick-and-mortar and pop-up), as well as virtual stores accessible via mobile devices, tablet computers, and the internet, are included in this category of distribution channels.
Merchants can manage their products and inventory using the company’s platform.
Additionally, merchants can process orders and payments, cultivate customer connections, and use analytical and reporting capabilities.
In addition to this, it gives merchants a consolidated view of their company as well as the customers that they serve.