Leonteq Securities AG Grows Holdings in Shopify Inc. $SHOP

Leonteq Securities AG lifted its stake in Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 74.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 24,831 shares of the software maker’s stock after acquiring an additional 10,570 shares during the quarter. Leonteq Securities AG’s holdings in Shopify were worth $3,013,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SHOP. Brighton Jones LLC lifted its stake in Shopify by 2.8% during the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after purchasing an additional 584 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Shopify by 107.3% in the first quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock valued at $1,392,000 after buying an additional 7,544 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of Shopify by 6.6% in the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock valued at $945,000 after buying an additional 506 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Shopify in the 2nd quarter valued at $53,000. Finally, Main Street Financial Solutions LLC raised its holdings in shares of Shopify by 15.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock valued at $1,284,000 after buying an additional 1,479 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Get Shopify alerts:

Shopify Trading Down 1.8%

NASDAQ:SHOP opened at $119.46 on Friday. The firm has a market cap of $155.02 billion, a PE ratio of 118.28, a price-to-earnings-growth ratio of 3.34 and a beta of 2.58. The stock has a fifty day moving average price of $111.58 and a 200 day moving average price of $126.79. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SHOP shares. UBS Group restated a “neutral” rating on shares of Shopify in a report on Thursday, May 28th. Barclays set a $126.00 target price on Shopify and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Wells Fargo & Company cut their price target on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Robert W. Baird set a $150.00 price target on shares of Shopify in a research report on Wednesday, May 6th. Finally, Citizens Jmp lowered their price objective on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $157.17.

Get Our Latest Research Report on Shopify

About Shopify

(Free Report)

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.

Read More

• Five stocks we like better than Shopify
• Shorting the Grid: Bloom Energy’s $25B AI Power Play
• SanDisk’s Volatility May Be Telling Bulls What They Want to Hear
• Meta’s AI Compute Push Could Turn Its Massive CapEx Bill Into a Competitive Weapon
• 3 Dividend ETFs Built for Stability in a Volatile Market

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP).

Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.