Shopify Inc. (NYSE:SHOP) Stake Trimmed by Tybourne Capital Management HK Ltd.

Tybourne Capital Management HK Ltd. lowered its stake in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 20.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 191,400 shares of the software maker’s stock after selling 48,000 shares during the quarter. Shopify makes up 4.6% of Tybourne Capital Management HK Ltd.’s investment portfolio, making the stock its 8th largest holding. Tybourne Capital Management HK Ltd. owned about 0.16% of Shopify worth $211,784,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of SHOP. Aequim Alternative Investments LP purchased a new position in Shopify during the 4th quarter valued at about $507,000. Baillie Gifford & Co. grew its stake in Shopify by 1.3% during the 4th quarter. Baillie Gifford & Co. now owns 5,724,739 shares of the software maker’s stock valued at $6,480,118,000 after acquiring an additional 75,642 shares in the last quarter. Jennison Associates LLC grew its stake in Shopify by 26.4% during the 4th quarter. Jennison Associates LLC now owns 4,289,790 shares of the software maker’s stock valued at $4,855,828,000 after acquiring an additional 895,940 shares in the last quarter. WCM Investment Management LLC grew its stake in Shopify by 4.6% during the 4th quarter. WCM Investment Management LLC now owns 1,936,577 shares of the software maker’s stock valued at $2,192,108,000 after acquiring an additional 85,903 shares in the last quarter. Finally, Lone Pine Capital LLC grew its stake in Shopify by 4.2% during the 4th quarter. Lone Pine Capital LLC now owns 1,795,290 shares of the software maker’s stock valued at $2,032,179,000 after acquiring an additional 72,742 shares in the last quarter. 56.89% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Shopify stock traded down $30.29 during trading hours on Wednesday, reaching $1,211.25. 27,161 shares of the company’s stock were exchanged, compared to its average volume of 1,371,890. The company has a 50 day moving average of $1,166.58 and a two-hundred day moving average of $1,129.37. Shopify Inc. has a fifty-two week low of $461.34 and a fifty-two week high of $1,499.75. The company has a current ratio of 17.87, a quick ratio of 17.87 and a debt-to-equity ratio of 0.14. The stock has a market cap of $148.41 billion, a P/E ratio of 790.79, a P/E/G ratio of 37.63 and a beta of 1.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, February 17th. The software maker reported $1.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $1.02. The company had revenue of $977.74 million during the quarter, compared to the consensus estimate of $906.82 million. Shopify had a net margin of 7.99% and a return on equity of 2.35%. As a group, analysts expect that Shopify Inc. will post 1.49 earnings per share for the current fiscal year.

SHOP has been the topic of several recent research reports. Morgan Stanley raised their target price on Shopify from $1,100.00 to $1,300.00 and gave the company an “equal weight” rating in a report on Thursday, February 25th. Wedbush raised their target price on Shopify from $1,300.00 to $1,650.00 and gave the company an “outperform” rating in a report on Friday, February 12th. Royal Bank of Canada raised their target price on Shopify from $1,290.00 to $1,500.00 and gave the company an “outperform” rating in a report on Thursday, February 18th. Oppenheimer lifted their price objective on Shopify from $1,300.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Thursday, February 25th. Finally, Mizuho lifted their price objective on Shopify from $1,050.00 to $1,300.00 and gave the stock a “neutral” rating in a research note on Friday, February 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $1,312.09.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, the United Kingdom, Australia, Latin America, and internationally. The company's platform provides merchants to run their business in 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, and access financing.

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Institutional Ownership by Quarter for Shopify (NYSE:SHOP)

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