Bank of America Corp DE Reduces Holdings in Shopify Inc. $SHOP

Key Points

• Bank of America reduced its Shopify stake by 2.6% in the first quarter, selling 297,606 shares. It still held 11.18 million shares worth approximately $1.33 billion, representing about 0.86% of Shopify.
• Institutional investors own approximately 69.27% of Shopify’s outstanding shares, with several smaller funds increasing their positions recently.
• Shopify shares opened at $122.40, while Wall Street maintains a “Moderate Buy” consensus with an average price target of $157.69; analysts cite earnings momentum, AI capabilities and a favorable software-market backdrop.

Bank of America Corp DE reduced its stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,183,985 shares of the software maker's stock after selling 297,606 shares during the quarter. Bank of America Corp DE owned about 0.86% of Shopify worth $1,326,644,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHOP. TBH Global Asset Management LLC boosted its holdings in shares of Shopify by 1.2% in the fourth quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker's stock valued at $1,036,000 after acquiring an additional 75 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Shopify by 13.9% during the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker's stock worth $72,000 after acquiring an additional 77 shares during the last quarter. Pacific Sage Partners LLC increased its holdings in shares of Shopify by 3.9% in the 4th quarter. Pacific Sage Partners LLC now owns 2,133 shares of the software maker's stock valued at $343,000 after acquiring an additional 80 shares during the period. WealthCollab LLC increased its holdings in shares of Shopify by 26.7% in the 4th quarter. WealthCollab LLC now owns 380 shares of the software maker's stock valued at $61,000 after acquiring an additional 80 shares during the period. Finally, Secure Asset Management LLC raised its position in Shopify by 1.8% in the 4th quarter. Secure Asset Management LLC now owns 4,724 shares of the software maker's stock valued at $760,000 after purchasing an additional 83 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Analysts expect Shopify to post another earnings beat, citing favorable earnings-estimate revisions and momentum indicators. The outlook could support the stock if results and guidance exceed expectations. Shopify Earnings Expected to Grow
• Positive Sentiment: Commentary comparing Shopify with Meta Platforms argues that Shopify’s AI tools cover merchant operations, product discovery and checkout, positioning the company to benefit as AI-generated traffic and orders increase. Shopify vs. Meta Platforms
• Positive Sentiment: Shopify was included among software stocks benefiting from lower Treasury yields and renewed investor interest in enterprise software and the AI investment cycle. This provides a favorable broader-market backdrop for SHOP. Zscaler, Shopify, and PTC Shares
• Positive Sentiment: Shopify’s ecosystem continues to expand, with Velocity Commerce receiving the company’s “Built for Shopify” designation and Marmeto becoming a Shopify Platinum Partner. These developments reinforce platform quality, app adoption and partner support, though they are unlikely to materially change near-term revenue. Velocity Commerce Built for Shopify

Shopify Trading Down 5.2%

SHOP stock opened at $122.40 on Friday. The firm has a 50 day moving average of $116.30 and a 200-day moving average of $120.70. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19. The company has a market cap of $158.83 billion, a price-to-earnings ratio of 121.19, a PEG ratio of 2.79 and a beta of 2.58.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SHOP. Stifel Nicolaus set a $150.00 price target on shares of Shopify and gave the stock a "buy" rating in a research note on Thursday, July 9th. Oppenheimer restated an "outperform" rating and issued a $175.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. Rothschild & Co Redburn set a $130.00 target price on shares of Shopify and gave the company a "neutral" rating in a report on Tuesday, July 21st. Morgan Stanley downgraded shares of Shopify from an "overweight" rating to a "buy" rating in a research note on Monday, July 13th. Finally, Bank of America started coverage on Shopify in a report on Tuesday, July 7th. They set a "buy" rating and a $150.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Shopify currently has an average rating of "Moderate Buy" and a consensus target price of $157.69.

About Shopify

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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