Goodman Advisory Group LLC Raises Stake in Shopify Inc. $SHOP

Key Points

• Goodman Advisory Group raised its stake in Shopify by 16,980.9% in Q3, acquiring an additional 18,679 shares to hold 18,789 shares valued at about $2.79 million per its latest 13F filing.
• Institutional investors own about 69.27% of Shopify, with several small funds adding positions recently, and analysts give a consensus rating of “Moderate Buy” with a $162.64 average price target (ratings split: 2 Strong Buy, 31 Buy, 10 Hold).
• Shopify trades with a market cap of ~$169.5 billion, a P/E of 140, a 52‑week range of $69.84–$182.19, and recent moving averages of $137.30 (50‑day) and $149.06 (200‑day); the stock opened at $130.20 on the reported day.

Goodman Advisory Group LLC grew its stake in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 16,980.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,789 shares of the software maker's stock after acquiring an additional 18,679 shares during the quarter. Goodman Advisory Group LLC's holdings in Shopify were worth $2,792,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Financial Gravity Companies Inc. purchased a new stake in shares of Shopify in the second quarter valued at about $27,000. Rothschild Investment LLC raised its stake in Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker's stock worth $27,000 after purchasing an additional 75 shares during the period. Heartwood Wealth Advisors LLC purchased a new position in Shopify during the third quarter worth about $27,000. Estabrook Capital Management acquired a new position in Shopify in the 2nd quarter valued at about $29,000. Finally, Vestor Capital LLC acquired a new position in Shopify in the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Robert W. Baird set a $160.00 price target on shares of Shopify in a report on Thursday, February 12th. Citigroup reiterated a "buy" rating and issued a $172.00 price objective (down from $195.00) on shares of Shopify in a report on Friday, February 13th. Royal Bank Of Canada set a $170.00 price objective on Shopify and gave the stock an "outperform" rating in a research report on Thursday, February 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of Shopify in a research report on Monday, December 29th. Finally, UBS Group dropped their price objective on Shopify from $165.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $162.64.

Shopify Stock Performance

Shopify stock opened at $130.20 on Friday. The company has a market capitalization of $169.50 billion, a P/E ratio of 140.00, a PEG ratio of 4.74 and a beta of 2.83. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $182.19. The stock has a 50-day simple moving average of $137.30 and a 200-day simple moving average of $149.06.

Shopify 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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