5 Stocks to Invest In According to Carl Anderson’s Marcho Partners

2. Shopify Inc. (NYSE:SHOP)

Marcho Partners’ Stake Value: $177.9 million

Marcho Partners’ 13F Portfolio: 11.16%

Number of Hedge Fund Holders: 73

Shopify Inc. (NYSE:SHOP) is a Canadian e-commerce company. As of May 2021, 1.7 million businesses use the company’s platform across 175 countries.

Out of 867 hedge funds in the Insider Monkey database, 73 of them held stakes in Shopify Inc. (NYSE:SHOP) in the third quarter of 2021, compared to 85 in the previous quarter, showing a decline in the hedge fund sentiment.

Here is what the investment management firm ClearBridge Investments said about Shopify Inc. (NYSE:SHOP) in its second-quarter 2021 investor letter:

“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.”