Shopify Inc. $SHOP Shares Sold by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC decreased its holdings in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 4.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 8,548 shares of the software maker’s stock after selling 368 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Shopify were worth $986,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SHOP. Brighton Jones LLC raised its holdings in Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after acquiring an additional 584 shares during the last quarter. Greenleaf Trust boosted its holdings in shares of Shopify by 5.3% during the 1st quarter. Greenleaf Trust now owns 4,146 shares of the software maker’s stock worth $396,000 after purchasing an additional 208 shares during the last quarter. Cerity Partners LLC grew its position in shares of Shopify by 7.1% in the first quarter. Cerity Partners LLC now owns 97,945 shares of the software maker’s stock valued at $9,352,000 after purchasing an additional 6,498 shares in the last quarter. Kathmere Capital Management LLC grew its position in shares of Shopify by 25.6% in the first quarter. Kathmere Capital Management LLC now owns 3,499 shares of the software maker’s stock valued at $334,000 after purchasing an additional 713 shares in the last quarter. Finally, BankPlus Trust Department acquired a new stake in shares of Shopify in the first quarter valued at approximately $76,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

NASDAQ SHOP opened at $152.41 on Monday. The firm’s 50-day moving average is $155.59 and its two-hundred day moving average is $130.55. The stock has a market capitalization of $198.08 billion, a P/E ratio of 112.90, a PEG ratio of 5.70 and a beta of 2.73. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. Shopify has set its Q4 2025 guidance at EPS. As a group, analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of recent research reports. Stifel Nicolaus set a $175.00 price objective on Shopify in a research note on Tuesday, November 4th. JMP Securities lifted their price target on Shopify from $135.00 to $185.00 and gave the stock a “market outperform” rating in a report on Thursday, August 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $181.00 price objective (up previously from $156.00) on shares of Shopify in a report on Wednesday. DZ Bank upgraded shares of Shopify from a “strong sell” rating to a “hold” rating in a research report on Thursday. Finally, Phillip Securities downgraded shares of Shopify from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and twenty-three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $163.89.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.