Bouvel Investment Partners LLC Has $1.39 Million Stock Position in Shopify Inc. (NYSE:SHOP)

Bouvel Investment Partners LLC lessened its position in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 1.2% in the third quarter, HoldingsChannel reports. The fund owned 17,376 shares of the software maker’s stock after selling 203 shares during the quarter. Bouvel Investment Partners LLC’s holdings in Shopify were worth $1,392,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. GQG Partners LLC lifted its position in Shopify by 197.9% in the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after acquiring an additional 13,885,473 shares in the last quarter. Capital World Investors raised its stake in shares of Shopify by 26.2% in the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Shopify by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after buying an additional 5,982,434 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Shopify by 49.9% during the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock worth $417,386,000 after buying an additional 2,102,939 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

SHOP stock opened at $115.13 on Thursday. The firm has a 50 day simple moving average of $79.47 and a two-hundred day simple moving average of $70.18. The stock has a market cap of $148.56 billion, a PE ratio of 107.60, a P/E/G ratio of 3.64 and a beta of 2.36. Shopify Inc. has a one year low of $48.56 and a one year high of $115.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09. Shopify had a net margin of 16.84% and a return on equity of 11.94%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. On average, analysts predict that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on SHOP. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective on the stock in a report on Tuesday, September 17th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Robert W. Baird increased their price objective on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday. Argus upgraded Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company increased their price target on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.95.

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.