Carl Anderson’s Marcho Partners Is Investing In These 5 Stocks

2. Shopify Inc. (NYSE:SHOP)

Marcho Partners’ Stake Value: $187.3 million
Percentage of Marcho Partners’ 13F Portfolio: 12.55%
Number of Hedge Fund Holders:

By the end of the second quarter of 2021, 85 hedge funds out of the 873 tracked by Insider Monkey held stakes in Shopify Inc. (NYSE:SHOP) worth roughly $13.97 billion. This is compared to 91 hedge funds in the previous quarter with a total stake value of approximately $9.98 billion.

Carl Anderson of Marcho Partners currently holds 128,269 shares in Shopify Inc. (NYSE:SHOP), valued at $187.3 million and accounting for 12.55% of his hedge fund’s total portfolio value.

On October 14, TD Securities analyst Daniel Chan initiated coverage of Shopify, Inc. (NYSE:SHOP) with a Hold rating and $1,500 price target.

In the Q2 2021 investor letter of ClearBridge Investments, the fund mentioned Shopify Inc. (NYSE:SHOP). Here is what the fund said:

“Shopify (is one of the) companies that have become go-to platforms for small and medium size businesses (SMBs) engaged in e-commerce and social media marketing, rebounded strongly in the quarter after being caught in the selloff among high-multiple growth names since Vaccine Monday. These and the portfolio’s other disruptors had thrived through the first part of the pandemic, leading us to trim positions into strength and reallocate cash into more attractively priced evolving opportunities and steady compounders that had been overly punished by lockdowns and a drop in economic activity.”