Bank of New York Mellon Corp has reduced its stake in shares of Shopify Inc. As per the company’s recent 13F filing with the Securities & Exchange Commission, the company decreased its stakes in the e-commerce giant by 5.4 percent during the first quarter.
The institutional investor now owns 174,239 shares after selling 9,974 shares. According to a report published by The AM Reporter, it owned 0.14 percent of Shopify valued at approximately $117,779,000 at the end of the recent quarter.
Other Investors
Several other investors have also recently increased or decreased their stakes in SHOP. Acquiring a new position in Shopify, Norges Bank’s market stock is valued at around $1,578,341,000 during the fourth quarter. Meanwhile, Capital Research Global Investors also increased its position by 48.0 percent in Shopify by the fourth quarter.
After acquiring 683,314 shares, Capital Research Global Investors now has 2,105,757 shares of Shopify’s stock valued at $2,900,449,000. During the first quarter, Fisher Asset Management LLC increased its position by 568.0 percent in Shopify after purchasing an additional 201,665 shares. The company now has 237,172 shares worth $160,319,000.
During the first quarter, ARK Investment Management LLC lifted its position in Shopify by 26.3 percent after acquiring an additional 187,833 shares. It now owns 903,063 shares worth $610,434,000. Lastly, Nikko Asset Management Americas Inc. purchased an additional 185,017 shares during the period increasing its position by 30.3 percent. The company now has 795,131 shares of Shopify’s stock valued at $539,536,000. Currently, institutional investors and hedge funds own 54.64 percent of Shopify’s stock.
