First Trust Advisors LP Grows Stake in Shopify Inc. $SHOP

Key Points

• First Trust Advisors LP increased its Shopify stake by 20.0% in the first quarter, buying an additional 196,528 shares and bringing its total holding to 1,177,120 shares valued at about $139.6 million.
• Institutional interest in Shopify remains strong overall, with hedge funds and other institutions owning 69.27% of the stock; several other funds also recently boosted their positions.
• Wall Street sentiment is still generally positive: analysts currently rate Shopify a Moderate Buy on average, with a consensus price target of $157.86, though one recent downgrade from Rothschild & Co Redburn added some caution.

First Trust Advisors LP increased its position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 20.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,177,120 shares of the software maker's stock after purchasing an additional 196,528 shares during the quarter. First Trust Advisors LP owned 0.09% of Shopify worth $139,629,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock valued at $2,252,000 after acquiring an additional 584 shares during the last quarter. AQR Capital Management LLC raised its position in Shopify by 107.3% during the first quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker's stock worth $1,392,000 after acquiring an additional 7,544 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Shopify by 6.6% in the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker's stock valued at $945,000 after purchasing an additional 506 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in shares of Shopify in the second quarter valued at approximately $53,000. Finally, Main Street Financial Solutions LLC grew its position in shares of Shopify by 15.3% in the second quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker's stock valued at $1,284,000 after purchasing an additional 1,479 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Price Performance

SHOP opened at $112.00 on Friday. The stock has a market capitalization of $145.34 billion, a price-to-earnings ratio of 110.89, a price-to-earnings-growth ratio of 2.55 and a beta of 2.58. The business has a 50-day moving average of $114.12 and a two-hundred day moving average of $122.19. Shopify Inc. has a 12 month low of $94.00 and a 12 month high of $182.19.

More Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Several recent articles highlighted Shopify’s strong growth profile, pointing to its ability to generate exceptional returns and calling it attractive for growth investors. 3 Reasons Why Growth Investors Shouldn't Overlook Shopify (SHOP)
• Positive Sentiment: Analyst coverage remained upbeat overall, with reports saying Wall Street sees Shopify as a buy and consensus price targets implying meaningful upside from current levels. Wall Street Analysts See Shopify (SHOP) as a Buy: Should You Invest?
• Positive Sentiment: Another analyst-focused piece said Shopify could surge about 27.9% based on consensus estimates, suggesting expectations for continued earnings momentum. Wall Street Analysts Think Shopify (SHOP) Could Surge 27.88%: Read This Before Placing a Bet
• Neutral Sentiment: Shopify ecosystem news remained constructive, as OneMagnify earned Premier Partner status, which underscores ongoing platform adoption and partner activity. OneMagnify Achieves Shopify Premier Partner Status, Powering Measurable Growth for Global Commerce Brands
• Negative Sentiment: Offsetting the bullish commentary, Rothschild & Co Redburn downgraded Shopify from buy to hold, which likely weighed on sentiment even though its new price target still implies upside. Zacks.com
• Negative Sentiment: Separate coverage noted unusually high options volume and an earlier session where Shopify lagged the broader market, suggesting traders have been active and cautious around the stock. Shopify Sees Unusually High Options Volume NASDAQ: SHOP

Wall Street Analyst Weigh In

SHOP has been the subject of several research reports. Barclays set a $126.00 price objective on Shopify and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. Susquehanna assumed coverage on Shopify in a research report on Friday, July 10th. They set a "neutral" rating for the company. BMO Capital Markets started coverage on Shopify in a report on Friday, July 10th. They issued a "market perform" rating for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $180.00 price objective on shares of Shopify in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of Shopify in a research note on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $157.86.

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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