Northside Capital Management LLC purchased a new stake in shares of Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,842 shares of the software maker’s stock, valued at approximately $781,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Shopify by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after purchasing an additional 743,803 shares during the last quarter. Norges Bank purchased a new position in shares of Shopify in the fourth quarter worth $2,611,797,000. Invesco Ltd. lifted its holdings in shares of Shopify by 9.8% during the fourth quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after purchasing an additional 1,252,074 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Shopify by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock valued at $2,043,365,000 after purchasing an additional 737,892 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Shopify by 9.1% during the fourth quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock valued at $1,627,352,000 after buying an additional 827,643 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.
Shopify News Summary
Here are the key news stories impacting Shopify this week:
- Positive Sentiment: Shopify’s latest earnings beat and continued revenue growth have strengthened investor confidence. Technical analysts say the stock’s breakout could support a move toward new highs if key support levels hold. Shopify Price Forecast: Breakout Signals Point Toward Higher Prices
- Positive Sentiment: Shopify was highlighted alongside Sea Limited as part of renewed enthusiasm for e-commerce stocks following strong quarterly results, suggesting investors may be rotating back into the sector. Sea Limited and Shopify Both Soar After Earnings
- Positive Sentiment: Brokerages collectively maintain a “Moderate Buy” recommendation, providing continued institutional support for the shares. Shopify Receives Average Recommendation of Moderate Buy
- Positive Sentiment: Analysts and market commentators continue to point to Shopify’s earnings growth, price strength, partner ecosystem and broad merchant reach as evidence of a durable competitive position. Shopify’s ecosystem is reported to support approximately 1.5 million jobs worldwide. Earnings Growth and Price Strength Make Shopify a Stock to Watch
- Neutral Sentiment: The reported August short-interest data shows zero shares sold short and a zero-day short-interest ratio. Because the figures also contain an “NaN” change, the data appears unreliable and does not provide a meaningful signal about investor positioning.
- Negative Sentiment: Legal scrutiny of embedded checkout technology and privacy-related tracking practices could create compliance costs, reputational risk or restrictions on Shopify’s tools. Embedded Tech, Real Privacy Risk
Shopify Stock Performance
Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last posted its earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $3.58 billion for the quarter. Shopify had a return on equity of 12.58% and a net margin of 14.53%.The firm’s revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. As a group, sell-side analysts anticipate that Shopify Inc. will post 1.4 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms recently commented on SHOP. Stifel Nicolaus set a $150.00 price objective on Shopify and gave the stock a “buy” rating in a report on Thursday, July 9th. Piper Sandler restated an “overweight” rating and set a $150.00 target price (down from $165.00) on shares of Shopify in a research note on Tuesday, May 5th. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price target on shares of Shopify in a report on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $175.00 price target on shares of Shopify in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group boosted their price objective on shares of Shopify from $170.00 to $194.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $170.72.
Read Our Latest Analysis on SHOP
Shopify Company Profile
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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