Harvest Fund Management Co. Ltd Has $23.60 Million Stock Position in Shopify Inc. $SHOP

Key Points

• Harvest Fund Management boosted its Shopify position 120.1% in Q3 to 158,836 shares worth $23.60 million, representing about 1.0% of the firm's portfolio and its 18th largest holding.
• Shopify stock opened around $122.96 and trades below its 50- and 200-day moving averages with a high trailing P/E (~132); analysts have an average target of $163.38 and a "Moderate Buy" consensus, noting AI/product catalysts alongside service outage and valuation risks.

Harvest Fund Management Co. Ltd increased its position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 120.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,836 shares of the software maker's stock after acquiring an additional 86,667 shares during the quarter. Shopify comprises about 1.0% of Harvest Fund Management Co. Ltd's investment portfolio, making the stock its 18th largest position. Harvest Fund Management Co. Ltd's holdings in Shopify were worth $23,602,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Financial Gravity Companies Inc. acquired a new stake in shares of Shopify during the 2nd quarter worth approximately $27,000. Rothschild Investment LLC lifted its holdings in Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker's stock valued at $27,000 after buying an additional 75 shares during the period. Heartwood Wealth Advisors LLC bought a new position in Shopify in the third quarter valued at approximately $27,000. Estabrook Capital Management bought a new position in Shopify in the second quarter valued at approximately $29,000. Finally, Vestor Capital LLC acquired a new stake in Shopify during the 2nd quarter worth $34,000. Institutional investors own 69.27% of the company's stock.

Shopify Stock Down 2.5%

Shares of SHOP stock opened at $122.96 on Friday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19. The firm has a fifty day moving average of $133.91 and a 200-day moving average of $148.61. The firm has a market capitalization of $160.07 billion, a price-to-earnings ratio of 132.22, a price-to-earnings-growth ratio of 4.53 and a beta of 2.83.

Analysts Set New Price Targets

SHOP has been the subject of several recent research reports. Royal Bank Of Canada set a $170.00 target price on shares of Shopify and gave the company an "outperform" rating in a research report on Thursday, February 12th. Moffett Nathanson upgraded Shopify from a "neutral" rating to a "buy" rating and set a $150.00 price target on the stock in a research report on Monday, February 9th. Canaccord Genuity Group set a $165.00 price objective on Shopify and gave the stock a "buy" rating in a research note on Thursday, February 12th. ATB Cormark Capital Markets upgraded Shopify from a "sector perform" rating to an "outperform" rating in a report on Tuesday, February 10th. Finally, Phillip Securities raised Shopify from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $163.38.

More Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Jefferies raised its price target after OpenAI decided not to enable in‑ChatGPT purchases, which Jefferies views as reducing a competitive threat to Shopify’s checkout and payments opportunity. This upgrade supports upside to monetization of AI-driven commerce. Jefferies Raises PT on Shopify (SHOP) Following OpenAI Decision
• Positive Sentiment: Piper Sandler initiated coverage with an "Overweight" rating and a $165 PT (~34% upside from the current level), citing payments and merchant growth as key drivers. Analyst coverage and a constructive PT can attract buyers. Benzinga Coverage Note
• Positive Sentiment: Shopify is embedding AI across commerce—enabling AI assistants to surface merchant catalogs and route transactions through Shopify’s checkout/payments—which could increase GMV capture and revenue per merchant if adoption scales. Shopify Bets Big on AI Commerce: Is it the Next Growth Catalyst?
• Positive Sentiment: Shopify’s Klaviyo integration (Locale Aware Catalogs) strengthens its enterprise and global merchant proposition by automating localized catalogs, pricing and marketing — a product move that targets larger brands and cross‑sell opportunities. Shopify And Klaviyo Integration Highlights Global Ambitions And Valuation Tension
• Positive Sentiment: Longer‑term bullish narratives: commentary (e.g., Motley Fool) places Shopify among AI winners that could materially expand value over several years, supporting a growth story for patient investors. Prediction: 2 AI Stocks Will Be Worth More Than Palantir Technologies in 5 Years
• Neutral Sentiment: Zacks notes the stock is up ~14% since the last earnings report, signaling recent momentum but asking whether that trend can continue without clearer earnings leverage. Shopify (SHOP) Up 14% Since Last Earnings Report: Can It Continue?
• Negative Sentiment: Zacks also highlights SHOP has declined ~11% over six months, reflecting recent volatility and investor concern about execution/valuation despite AI momentum. SHOP Declines 11% in 6 Months: Buy, Sell or Hold the Stock?
• Negative Sentiment: Service reliability concern — Downdetector reported outages affecting thousands of users; repeated or high‑impact outages can dent merchant trust and short‑term GMV. Shopify Down for Thousands of Users, Downdetector Reports
• Negative Sentiment: Valuation and technical pressure — SHOP trades below its 50‑ and 200‑day moving averages, has a high trailing P/E (~132) and elevated PEG (~4.65), which increases sensitivity to any slowdown in revenue/monetization.

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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