MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Holdings in Shopify Inc. $SHOP

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its Shopify stake by 8.3% in Q3, buying an additional 116,122 shares to hold 1,510,753 shares worth about $224.52 million (≈0.12% of the company).
• Institutional ownership is high at 69.27%, with several other funds (e.g., AQR, Brighton Jones, Citizens Financial) also increasing their positions in recent quarters.
• Analyst sentiment is a "Moderate Buy" with an average price target of $163.38; notable upgrades include Scotiabank raising its target to $200 while some firms maintain or lower targets.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,510,753 shares of the software maker's stock after purchasing an additional 116,122 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.12% of Shopify worth $224,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock worth $2,252,000 after buying an additional 584 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Shopify by 107.3% in the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker's stock valued at $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 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker's stock valued at $945,000 after acquiring an additional 506 shares during the last quarter. Avantax Advisory Services Inc. grew its position in Shopify by 11.0% in the second quarter. Avantax Advisory Services Inc. now owns 46,695 shares of the software maker's stock worth $5,386,000 after acquiring an additional 4,614 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in Shopify by 67.4% in the second quarter. Citizens Financial Group Inc. RI now owns 41,685 shares of the software maker's stock worth $4,808,000 after acquiring an additional 16,788 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $126.58 on Tuesday. The business's 50 day moving average price is $133.12 and its 200-day moving average price is $148.62. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $182.19. The company has a market cap of $165.07 billion, a price-to-earnings ratio of 136.11, a PEG ratio of 4.41 and a beta of 2.83.

Analysts Set New Price Targets

SHOP has been the topic of a number of recent research reports. Scotiabank upgraded Shopify from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $165.00 to $200.00 in a research report on Thursday, January 8th. Phillip Securities raised Shopify from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 18th. Weiss Ratings restated a "hold (c)" rating on shares of Shopify in a report on Monday, December 29th. Needham & Company LLC restated a "buy" rating and issued a $180.00 price target on shares of Shopify in a research report on Thursday, February 12th. Finally, Wedbush dropped their price objective on shares of Shopify from $185.00 to $160.00 and set an "outperform" rating for the company in a research note on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $163.38.

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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