Cetera Investment Advisers Grows Stake in Shopify Inc. $SHOP

Cetera Investment Advisers increased its stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 13.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 372,259 shares of the software maker's stock after purchasing an additional 44,336 shares during the period. Cetera Investment Advisers' holdings in Shopify were worth $44,157,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. M&T Bank Corp boosted its position in Shopify by 37.1% during the fourth quarter. M&T Bank Corp now owns 81,082 shares of the software maker's stock worth $13,051,000 after acquiring an additional 21,945 shares during the last quarter. Triasima Portfolio Management inc. raised its holdings in Shopify by 11.0% in the 4th quarter. Triasima Portfolio Management inc. now owns 182,338 shares of the software maker's stock valued at $29,398,000 after acquiring an additional 18,028 shares during the last quarter. Assetmark Inc. lifted its stake in Shopify by 6.7% in the 4th quarter. Assetmark Inc. now owns 213,583 shares of the software maker's stock worth $34,380,000 after purchasing an additional 13,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Shopify by 12.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 526,114 shares of the software maker's stock worth $84,689,000 after purchasing an additional 59,745 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Shopify by 6.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,892,833 shares of the software maker's stock worth $948,569,000 after purchasing an additional 356,008 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SHOP shares. Jefferies Financial Group upgraded Shopify from a "hold" rating to a "buy" rating and upped their price target for the company from $140.00 to $160.00 in a research report on Sunday, July 12th. DA Davidson lowered their price objective on Shopify from $195.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Susquehanna started coverage on Shopify in a report on Friday, July 10th. They issued a "neutral" rating for the company. Robert W. Baird set a $150.00 target price on Shopify in a research note on Wednesday, May 6th. Finally, Citizens Jmp reduced their price target on Shopify from $160.00 to $150.00 and set a "market outperform" rating on the stock in a report on Wednesday, May 6th. Three investment 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. Based on data from MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and a consensus target price of $157.69.

Shopify Stock Up 1.6%

SHOP stock opened at $113.75 on Friday. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $182.19. The stock has a market cap of $147.61 billion, a price-to-earnings ratio of 112.62, a price-to-earnings-growth ratio of 2.45 and a beta of 2.58. The business has a fifty day moving average of $114.39 and a two-hundred day moving average of $122.13.

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

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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