Claret Asset Management Corp Sells 10,095 Shares of Shopify Inc. $SHOP

Key Points

• Claret Asset Management cut its stake in Shopify by 69.1% in Q3, selling 10,095 shares and retaining 4,508 shares valued at $670,000 at quarter-end.
• Other institutions ramped up exposure—Norges Bank opened a roughly $1.7949 billion position and Jennison Associates added 7,403,821 shares—leaving institutional ownership at 69.27%.
• SHOP traded at $133.50 (52‑week range $69.84–$182.19) with a market cap of $173.8B, and a MarketBeat consensus rating of "Moderate Buy" with a consensus price target of $163.33.

Claret Asset Management Corp lowered its holdings in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 69.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,508 shares of the software maker's stock after selling 10,095 shares during the quarter. Claret Asset Management Corp's holdings in Shopify were worth $670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHOP. Norges Bank bought a new position in Shopify in the 2nd quarter worth approximately $1,794,952,000. Jennison Associates LLC grew its holdings in Shopify by 64.3% during the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker's stock valued at $2,812,211,000 after buying an additional 7,403,821 shares in the last quarter. Brown Advisory Inc. raised its position in shares of Shopify by 5,193.6% during the second quarter. Brown Advisory Inc. now owns 2,066,884 shares of the software maker's stock valued at $238,419,000 after buying an additional 2,027,839 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Shopify by 19.9% during the second quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker's stock valued at $1,247,007,000 after buying an additional 1,781,530 shares during the last quarter. Finally, Picton Mahoney Asset Management lifted its holdings in shares of Shopify by 246,359.0% in the second quarter. Picton Mahoney Asset Management now owns 1,759,717 shares of the software maker's stock worth $202,146,000 after buying an additional 1,759,003 shares in the last quarter. Institutional investors own 69.27% of the company's stock.

Shopify Stock Up 2.5%

SHOP stock opened at $133.50 on Tuesday. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The company has a fifty day simple moving average of $136.61 and a two-hundred day simple moving average of $149.12. The firm has a market capitalization of $173.80 billion, a P/E ratio of 143.55, a price-to-earnings-growth ratio of 4.67 and a beta of 2.83.

Analyst Ratings Changes

A number of brokerages recently weighed in on SHOP. KeyCorp restated an "overweight" rating and set a $160.00 target price on shares of Shopify in a research report on Wednesday, February 11th. Barclays set a $130.00 price target on shares of Shopify and gave the stock an "equal weight" rating in a research note on Thursday, February 12th. Citizens Jmp dropped their price objective on shares of Shopify from $200.00 to $160.00 and set a "market outperform" rating for the company in a report on Thursday, February 12th. Citigroup restated a "buy" rating and set a $172.00 price objective (down from $195.00) on shares of Shopify in a research report on Friday, February 13th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Shopify in a report on Monday, December 1st. Two investment 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $163.33.

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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