Insight Holdings Group LLC Raises Holdings in Shopify Inc. $SHOP

Key Points

• Insight Holdings Group LLC increased its Shopify stake by 231.8% in the first quarter, buying 66,130 additional shares to bring its total to 94,660 shares worth about $11.2 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding about 69.27% of Shopify’s stock.
• Analyst sentiment is broadly positive: Shopify currently has a Moderate Buy consensus rating and an average price target of $157.69, with Citigroup maintaining a Buy rating even after trimming its target to $150.

Insight Holdings Group LLC boosted its holdings in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 231.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,660 shares of the software maker's stock after acquiring an additional 66,130 shares during the quarter. Shopify comprises 0.8% of Insight Holdings Group LLC's holdings, making the stock its 15th largest holding. Insight Holdings Group LLC's holdings in Shopify were worth $11,229,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingdom Financial Group LLC. acquired a new position in shares of Shopify in the 4th quarter valued at $26,000. Curio Wealth LLC acquired a new stake in shares of Shopify during the 4th quarter worth about $27,000. Evolution Wealth Management Inc. raised its holdings in Shopify by 203.9% in the 1st quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker's stock valued at $27,000 after buying an additional 155 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Shopify in the 4th quarter valued at about $29,000. Finally, Lodestone Wealth Management LLC acquired a new position in Shopify in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on SHOP shares. Robert W. Baird set a $150.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Barclays set a $126.00 price objective on shares of Shopify and gave the stock an "equal weight" rating in a report on Wednesday, May 6th. Zacks Research raised shares of Shopify from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. Citizens Jmp dropped their target price on shares of Shopify from $160.00 to $150.00 and set a "market outperform" rating for the company in a report on Wednesday, May 6th. Finally, Citigroup cut their target price on Shopify from $156.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday. Three analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $157.69.

Shopify Stock Performance

Shares of SHOP opened at $113.75 on Friday. The stock has a market capitalization of $147.61 billion, a PE ratio of 112.62, a P/E/G ratio of 2.45 and a beta of 2.58. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The company's 50-day simple moving average is $114.39 and its 200-day simple moving average is $122.13.

More Shopify News

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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