RE:Coatue Management reports 8.2 percent passive stakeVERY BULLISH!
What a good find Bimmer guy. Kudos to you for posting it on the board. Here is a list of CM holdings from their SEC filings. Note the big positions in all the tech darlings Apple, Alphabet, Amazon, Alibaba and of course as you noted Shopify. Here is a quote from Bloomberg on their strategy. "The firm employs fundamental analysis along with long/short strategy and top-down stock picking approach to create its portfolios. It primarily invests in companies operating in global technology, media, telecommunications, and consumer sectors. For its private equity investments, the firm invests in high-growth, pre-IPO technology."
CM Form 13F Looks to me like they are long investors in tech pure and simple and they have a comparable $ value position in SHOP to what they have in the other big tech names. Of course this is a much bigger % ownership in SHOP based on its share price and some of its colleagues who's shares are trading in the 1000s.
My take is that this is a VERY BULLISH position by a hedgefund which is managing many billions of dollars.