Market Folly
0
All posts from Market Folly
Market Folly in Group,

Coatue Management Increases Shopify Stake

Philippe Laffont's hedge fund Coatue Management has filed a 13G with the SEC regarding Shopify (SHOP) shares.  Per the filing, Coatue now owns 8.2% of SHOP with over 7 million shares.

This is up from their previous ownership stake of only 2.62 million shares at the end of the second quarter.  The new filing was made due to activity on October 24th.

Per Google Finance, Shopify is "provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company's software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces. The Shopify platform provides merchants with a single view of their business and customers across all of their sales channels and enables them to manage products and inventory, process orders and payments, ship orders, build customer relationships and leverage analytics and reporting all from one integrated back office. The Shopify platform includes a mobile-optimized checkout system, which is designed to enable merchants' consumers to buy products over mobile Websites. Its merchants are able to offer their customers the ability to check out by using Apple Pay."