Shopify Inc. $SHOP Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp increased its stake in shares of Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 18.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,044 shares of the software maker’s stock after purchasing 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 quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Kingdom Financial Group LLC. acquired a new stake in shares of Shopify during the 4th quarter worth about $26,000. Curio Wealth LLC acquired a new stake in Shopify during the fourth quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Shopify during the fourth quarter worth approximately $29,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Shopify during the 4th quarter worth approximately $31,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Shopify during the 4th quarter worth approximately $31,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify News Roundup

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

Analyst Ratings Changes

Several equities research analysts recently commented on SHOP shares. Barclays set a $126.00 price target on shares of Shopify and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. UBS Group reaffirmed a “neutral” rating on shares of Shopify in a report on Thursday, May 28th. Rothschild & Co Redburn set a $130.00 target price on Shopify and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Canaccord Genuity Group reduced their target price on Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Finally, Zacks Research raised Shopify from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average target price of $157.69.

Check Out Our Latest Report on SHOP

Shopify Price Performance

NASDAQ:SHOP opened at $113.75 on Monday. The firm’s fifty day simple moving average is $114.39 and its 200-day simple moving average is $121.82. The stock has a market cap 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. Shopify Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $182.19.

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.

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