Amundi Acquires 84,971 Shares of Shopify Inc. $SHOP

Key Points

• Amundi increased its Shopify stake by 2.7% in the first quarter, purchasing 84,971 additional shares to own 3.2 million shares worth approximately $379.7 million. Institutional investors collectively hold 69.27% of Shopify.
• Analyst sentiment remains positive, with Shopify receiving a consensus “Moderate Buy” rating and an average price target of $157.69. Recent coverage includes Buy, Outperform, and Overweight ratings, though some targets were reduced.
• Shopify shares opened at $129.17, compared with a 52-week range of $94.00 to $182.19. Investors are focused on the company’s upcoming second-quarter earnings report, with expectations for strong revenue growth and continued momentum from its artificial-intelligence commerce tools.

Amundi raised its holdings in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 2.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,200,943 shares of the software maker's stock after purchasing an additional 84,971 shares during the period. Amundi owned 0.25% of Shopify worth $379,696,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in Shopify by 16.3% during the first quarter. EverSource Wealth Advisors LLC now owns 6,534 shares of the software maker's stock worth $775,000 after buying an additional 917 shares during the period. Readystate Asset Management LP bought a new stake in Shopify during the first quarter valued at about $14,283,000. Empowered Funds LLC boosted its position in Shopify by 5.3% during the first quarter. Empowered Funds LLC now owns 33,886 shares of the software maker's stock valued at $4,020,000 after purchasing an additional 1,703 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Shopify by 8.5% during the first quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker's stock valued at $998,137,000 after purchasing an additional 660,198 shares in the last quarter. Finally, Excelsior Advisor Network LLC grew its stake in Shopify by 5.8% in the first quarter. Excelsior Advisor Network LLC now owns 2,925 shares of the software maker's stock valued at $347,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 69.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SHOP shares. Robert W. Baird set a $150.00 target price on shares of Shopify in a report on Wednesday, May 6th. BMO Capital Markets started coverage on shares of Shopify in a report on Friday, July 10th. They issued a "market perform" rating on the stock. Susquehanna started coverage on shares of Shopify in a research report on Friday, July 10th. They issued a "neutral" rating on the stock. Royal Bank Of Canada reiterated an "outperform" rating on shares of Shopify in a research note on Monday, July 20th. Finally, Piper Sandler reissued an "overweight" rating and set a $150.00 target price (down from $165.00) on shares of Shopify in a research report on Tuesday, May 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $157.69.

Shopify Price Performance

NASDAQ SHOP opened at $129.17 on Thursday. The stock's fifty day moving average price is $115.95 and its 200 day moving average price is $120.99. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The company has a market cap of $167.62 billion, a price-to-earnings ratio of 127.89, a PEG ratio of 2.81 and a beta of 2.58.

Key Stories Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Investor focus remains on Shopify’s second-quarter report, scheduled for August 5. Analysts and Zacks point to favorable earnings momentum and the possibility of a beat, while market participants are anticipating revenue growth in the “high twenties.” Strong guidance, gross merchandise volume, and merchant solutions results could support the stock. Shopify Earnings Expected to Grow
• Positive Sentiment: Shopify is increasingly viewed as an artificial-intelligence commerce beneficiary. Its AI tools cover merchant operations, product discovery, and checkout, while rising AI-driven traffic and orders could strengthen its competitive position versus Meta Platforms. Shopify vs. Meta Platforms
• Positive Sentiment: A broader rotation into enterprise software, helped by lower Treasury yields and renewed confidence that AI spending extends beyond hyperscalers and chipmakers, has provided a favorable backdrop for Shopify and similar technology stocks. Zscaler, Shopify, and PTC Shares
• Neutral Sentiment: New ecosystem developments, including Shopify’s “Built for Shopify” app designation and the DoorDash native sales-channel integration, reinforce platform adoption and merchant reach but offer limited near-term financial data. Shopify and DoorDash Integration
• Negative Sentiment: Criticism of CEO Tobi Lütke over apparent support for giving wealthy shareholders greater voting power introduces a governance overhang, although the immediate financial impact is unclear. Shopify CEO Voting-Power Criticism

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.

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