10,300 Shares in Shopify Inc. $SHOP Bought by Sustainable Insight Capital Management LLC

Key Points

• Sustainable Insight Capital Management disclosed a new position in Shopify, buying 10,300 shares valued at about $1.22 million in the first quarter.
• Shopify shares were up 1.6% to $113.75, giving the company a market cap of about $147.6 billion. The stock remains well below its 12-month high of $182.19.
• Wall Street sentiment remains generally positive, with analysts maintaining mostly buy-equivalent ratings and an average price target of $157.69, though some firms have recently trimmed targets or downgraded the stock.

Sustainable Insight Capital Management LLC bought a new stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,300 shares of the software maker's stock, valued at approximately $1,222,000.

Several other hedge funds have also bought and sold shares of the stock. Kingdom Financial Group LLC. purchased a new position in shares of Shopify during the 4th quarter valued at about $26,000. Curio Wealth LLC bought a new position in shares of Shopify during the 4th quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Shopify in the 4th quarter worth approximately $29,000. Lloyd Advisory Services LLC. purchased a new stake in Shopify in the 4th quarter worth approximately $31,000. Finally, Lodestone Wealth Management LLC bought a new stake in Shopify during the 4th quarter worth approximately $31,000. Institutional investors own 69.27% of the company's stock.

Shopify Trading Up 1.6%

Shares of Shopify stock opened at $113.75 on Friday. The firm has a market cap of $147.61 billion, a PE ratio of 112.62, a PEG ratio of 2.42 and a beta of 2.58. The stock has a 50 day moving average of $114.39 and a 200 day moving average of $122.13. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19.

Wall Street Analysts Forecast Growth

SHOP has been the topic of several analyst reports. Oppenheimer reaffirmed an "outperform" rating and set a $175.00 price target on shares of Shopify in a report on Wednesday, May 6th. National Bank Financial set a $155.00 price objective on shares of Shopify and gave the stock an "outperform" rating in a research note on Monday, July 20th. Morgan Stanley downgraded shares of Shopify from an "overweight" rating to a "buy" rating in a research report on Monday, July 13th. Royal Bank Of Canada restated an "outperform" rating on shares of Shopify in a research note on Monday. Finally, BMO Capital Markets assumed coverage on shares of Shopify in a report on Friday, July 10th. They issued a "market perform" rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Shopify has an average rating of "Moderate Buy" and an average price target of $157.69.

Trending Headlines about Shopify

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

Shopify 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.