Summit X LLC Makes New Investment in Shopify Inc. $SHOP

Summit X LLC bought a new position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,847 shares of the software maker’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC purchased a new stake in shares of Shopify during the 2nd quarter worth approximately $25,000. Tradewinds Capital Management LLC raised its stake in Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Coastline Trust Co bought a new position in Shopify during the second quarter valued at $29,000. Global Wealth Strategies & Associates raised its position in shares of Shopify by 182.8% during the 2nd quarter. Global Wealth Strategies & Associates now owns 263 shares of the software maker’s stock valued at $30,000 after buying an additional 170 shares in the last quarter. Finally, Access Investment Management LLC purchased a new position in Shopify in the second quarter worth about $31,000. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $152.41 on Monday. The business’s 50-day moving average is $155.59 and its 200 day moving average is $130.55. Shopify Inc. has a 1 year low of $69.84 and a 1 year high of $182.19. The firm has a market capitalization of $198.08 billion, a P/E ratio of 112.90, a P/E/G ratio of 5.70 and a beta of 2.73.

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

Analyst Ratings Changes

A number of research firms recently commented on SHOP. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 price target on shares of Shopify in a research note on Wednesday. Oppenheimer restated an “outperform” rating and issued a $200.00 price target (up from $180.00) on shares of Shopify in a report on Tuesday, October 28th. DA Davidson boosted their price objective on shares of Shopify from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. National Bankshares lifted their price target on shares of Shopify from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Finally, JMP Securities increased their price objective on Shopify from $135.00 to $185.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and twenty-three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus 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.