OMERS ADMINISTRATION Corp boosted its position in shares of Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 18.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,044 shares of the software maker’s stock after acquiring an additional 9,096 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Shopify were worth $6,876,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Kingdom Financial Group LLC. purchased a new position in shares of Shopify in the fourth quarter worth approximately $26,000. Curio Wealth LLC bought a new position in Shopify in the 4th quarter worth $27,000. Evolution Wealth Management Inc. raised its stake in shares of Shopify by 203.9% in the first quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock worth $27,000 after buying an additional 155 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shopify during the 4th quarter worth approximately $29,000. Finally, Lodestone Wealth Management LLC purchased a new position in shares of Shopify during the 4th quarter valued at $31,000. 69.27% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
SHOP has been the subject of several research analyst reports. Susquehanna began coverage on shares of Shopify in a research note on Friday, July 10th. They set a “neutral” rating for the company. Citigroup lowered their price target on Shopify from $156.00 to $150.00 and set a “buy” rating for the company in a research report on Friday. BTIG Research initiated coverage on Shopify in a research report on Friday, July 10th. They set a “buy” rating for the company. Barclays set a $126.00 target price on shares of Shopify and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, National Bank Financial set a $155.00 price target on Shopify and gave the company an “outperform” rating in a report on Monday, July 20th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Shopify has an average rating of “Moderate Buy” and a consensus target price of $157.69.
Shopify Stock Performance
Shares of NASDAQ SHOP opened at $113.75 on Monday. The company’s fifty day moving average price is $114.39 and its 200 day moving average price is $121.82. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The company has a market capitalization of $147.61 billion, a PE ratio of 112.62, a price-to-earnings-growth ratio of 2.45 and a beta of 2.58.
More Shopify News
Here are the key news stories impacting Shopify this week:
- Positive Sentiment: Citigroup lowered its price target on Shopify to $150 from $156 but kept a Buy rating, implying meaningful upside from current levels. Benzinga
- Positive Sentiment: Several analyst-focused articles highlighted Shopify as a buy and pointed to roughly 28% upside based on consensus price targets, which can support sentiment around the stock. Wall Street Analysts See Shopify (SHOP) as a Buy: Should You Invest?
- Positive Sentiment: Growth-oriented coverage continued to argue that Shopify’s strong fundamentals and growth profile could make it attractive for long-term investors. 3 Reasons Why Growth Investors Shouldn’t Overlook Shopify (SHOP)
- Neutral Sentiment: Reports about Shopify merchants processing record GMV and the broader merchant ecosystem underscore platform momentum, but they were more of an industry/operating backdrop than a direct stock-moving announcement. DSCP Smart Fulfillment Addresses Critical Gap as Shopify Merchants Process Record $378 Billion in Annual Sales
- Negative Sentiment: Rothschild & Co Redburn cut Shopify to Hold, a downgrade that likely pressured the shares and signaled more caution on the stock’s near-term upside. Shopify (NASDAQ:SHOP) Cut to “Hold” at Rothschild & Co Redburn
About Shopify
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.
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