Shopify Inc. (NYSE:SHOP) Short Interest Update

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 13,170,000 shares, a drop of 22.0% from the January 15th total of 16,890,000 shares. Based on an average daily trading volume, of 8,540,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 1.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. lifted its holdings in Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. Capital World Investors lifted its holdings in Shopify by 0.9% during the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock worth $5,646,455,000 after purchasing an additional 496,982 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Shopify by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after purchasing an additional 781,162 shares in the last quarter. FMR LLC lifted its holdings in Shopify by 3.4% during the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock worth $4,653,054,000 after purchasing an additional 1,426,000 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Shopify by 2.7% during the 4th quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock worth $3,883,039,000 after purchasing an additional 968,026 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Stock Up 5.9 %

Shares of NYSE:SHOP opened at $127.65 on Friday. The company has a market capitalization of $164.93 billion, a PE ratio of 119.30, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. 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 business has a fifty day moving average price of $111.43 and a two-hundred day moving average price of $92.02. Shopify has a 1 year low of $48.56 and a 1 year high of $128.00.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Analysts forecast that Shopify will post 0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Mizuho lifted their target price on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 price target on shares of Shopify in a research note on Wednesday. Morgan Stanley lifted their target price on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research report on Wednesday. Piper Sandler lifted their target price on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Robert W. Baird lifted their target price on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.14.

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.