Bank of New York Mellon Corp Sells 140,714 Shares of Shopify Inc. $SHOP

Key Points

• Bank of New York Mellon trimmed its Shopify stake by 4.0% in the fourth quarter, selling 140,714 shares and still holding 3.34 million shares worth about $537 million.
• Shopify reported strong quarterly results, with revenue of $3.17 billion beating estimates and earnings far above consensus, while analysts kept an overall Moderate Buy view with a target price around $157.17.
• Investor sentiment remains active: Shopify’s board approved an additional $3 billion in share repurchases, bringing the authorization to $5 billion, even as the stock fell 3.5% and some commentary pointed to recent volatility and profit-taking.

Bank of New York Mellon Corp lessened its holdings in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,336,091 shares of the software maker's stock after selling 140,714 shares during the quarter. Bank of New York Mellon Corp owned 0.26% of Shopify worth $537,011,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SHOP. Norges Bank bought a new stake in Shopify in the 4th quarter valued at $2,611,797,000. Thrivent Financial for Lutherans increased its holdings in Shopify by 7,207.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker's stock valued at $184,883,000 after buying an additional 1,132,545 shares during the period. Select Equity Group L.P. increased its holdings in Shopify by 92.5% in the 2nd quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker's stock valued at $259,124,000 after buying an additional 1,079,494 shares during the period. Steadfast Capital Management LP bought a new stake in Shopify in the 3rd quarter valued at $140,930,000. Finally, Vanguard Group Inc. grew its holdings in shares of Shopify by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker's stock worth $8,158,643,000 after purchasing an additional 743,803 shares during the last quarter. Institutional investors own 69.27% of the company's stock.

Shopify Stock Down 3.5%

Shares of NASDAQ:SHOP opened at $112.94 on Thursday. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19. The company's 50-day moving average price is $114.73 and its two-hundred day moving average price is $133.18. The firm has a market cap of $146.56 billion, a P/E ratio of 111.82, a P/E/G ratio of 3.28 and a beta of 2.60.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. As a group, equities analysts predict that Shopify Inc. will post 1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

SHOP has been the topic of several analyst reports. BMO Capital Markets lowered their target price on shares of Shopify from $160.00 to $145.00 and set an "outperform" rating on the stock in a report on Wednesday, May 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 target price on shares of Shopify in a report on Wednesday, May 6th. Stifel Nicolaus set a $115.00 target price on shares of Shopify and gave the stock a "hold" rating in a report on Wednesday, February 11th. Evercore set a $135.00 target price on shares of Shopify in a report on Wednesday, February 11th. Finally, Weiss Ratings lowered shares of Shopify from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $157.17.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify’s board approved an additional $3 billion for share repurchases, lifting the total authorization to $5 billion. Buybacks can support the stock by reducing share count and signaling management confidence in the business. Shopify Board Approves Expanding Share Repurchase Program to US$5 Billion
• Positive Sentiment: Analyst and momentum commentary remained favorable, with Zacks highlighting Shopify’s earnings and price momentum and noting continued investor interest in the name. Shopify (SHOP) Boasts Earnings & Price Momentum: Should You Buy?
• Positive Sentiment: Third-party product activity continues to build around Shopify, including a new payment rewards application for merchants and a Shopify Payment Extension added to EMTWerx 2.0, reinforcing ecosystem expansion. RealFi Announces Development of XRP Ledger-Powered Payment Rewards Application for Shopify Merchants
• Neutral Sentiment: Shopify resolved a roughly two-hour outage that affected storefronts and checkouts. While the issue was fixed quickly, it may have reminded investors that platform reliability remains important for merchant confidence. Shopify Resolves 2-Hour Outage Impacting Storefronts and Checkouts
• Negative Sentiment: Some articles pointed to broader volatility and recent profit-taking after a sharp move higher, suggesting investors may be locking in gains rather than chasing the stock immediately. Why Shopify (SHOP) Stock Is Down Today

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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