AIA Group Ltd Has $13.10 Million Stock Holdings in Shopify Inc. $SHOP

Key Points

• AIA Group Ltd reduced its Shopify stake by 16.8% in the first quarter, selling 22,249 shares and leaving it with 110,456 shares valued at about $13.1 million.
• Shopify remains heavily owned by institutions, with 69.27% of shares held by institutional investors and hedge funds, while several smaller firms recently initiated new positions.
• Analysts are mixed but generally positive: Shopify has a consensus rating of Moderate Buy with an average price target of $157.58, though some firms recently lowered their targets.

AIA Group Ltd trimmed its position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 16.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,456 shares of the software maker's stock after selling 22,249 shares during the quarter. AIA Group Ltd's holdings in Shopify were worth $13,102,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Kingdom Financial Group LLC. acquired a new position in Shopify during the fourth quarter worth about $26,000. Curio Wealth LLC acquired a new position in shares of Shopify in the fourth quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shopify in the 4th quarter valued at approximately $29,000. Lloyd Advisory Services LLC. bought a new position in shares of Shopify during the fourth quarter valued at $31,000. Finally, Lodestone Wealth Management LLC bought a new position in shares of Shopify during the fourth quarter valued at $31,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Down 1.2%

Shares of NASDAQ:SHOP opened at $123.56 on Friday. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The stock's 50 day moving average is $112.47 and its 200-day moving average is $123.66. The firm has a market capitalization of $160.34 billion, a price-to-earnings ratio of 122.34, a PEG ratio of 2.68 and a beta of 2.58.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. DA Davidson reduced their price objective on shares of Shopify from $195.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Stifel Nicolaus set a $150.00 target price on Shopify and gave the stock a "buy" rating in a research report on Thursday, July 9th. Wells Fargo & Company cut their target price on Shopify from $166.00 to $144.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Susquehanna started coverage on Shopify in a report on Friday, July 10th. They issued a "neutral" rating on the stock. Finally, Barclays set a $126.00 price objective on shares of Shopify and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $157.58.

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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