Pictet Asset Management Holding SA Sells 165,473 Shares of Shopify Inc. $SHOP

Key Points

• Pictet Asset Management sold 165,473 Shopify shares in Q4, a 10.8% reduction that left it with 1,364,459 shares worth about $219.8 million (≈0.10% of the company).
• Analyst sentiment is mixed—Wells Fargo and UBS trimmed price targets while Scotiabank upgraded—yet the consensus rating is a "Moderate Buy" with an average target of $162.70.
• SHOP opened at $125.83 and trades below its 200‑day moving average ($142.92); the stock's 12‑month range is $88.14–$182.19, with a market cap of $164.1 billion and a P/E of 135.3.

Pictet Asset Management Holding SA decreased its holdings in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,364,459 shares of the software maker's stock after selling 165,473 shares during the quarter. Pictet Asset Management Holding SA owned about 0.10% of Shopify worth $219,804,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SHOP. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shopify during the 4th quarter valued at approximately $29,000. Lodestone Wealth Management LLC bought a new stake in Shopify during the 4th quarter valued at approximately $31,000. Sound Income Strategies LLC boosted its stake in Shopify by 82.4% during the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker's stock valued at $31,000 after purchasing an additional 89 shares during the period. JPL Wealth Management LLC bought a new stake in Shopify during the 3rd quarter valued at approximately $32,000. Finally, Caitlin John LLC bought a new stake in Shopify during the 3rd quarter valued at approximately $36,000. Institutional investors own 69.27% of the company's stock.

Shopify Stock Performance

Shares of SHOP stock opened at $125.83 on Monday. The stock has a 50 day moving average of $122.15 and a two-hundred day moving average of $142.92. Shopify Inc. has a 12 month low of $88.14 and a 12 month high of $182.19. The company has a market capitalization of $164.10 billion, a P/E ratio of 135.30, a P/E/G ratio of 4.47 and a beta of 2.82.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SHOP shares. Wells Fargo & Company decreased their target price on Shopify from $191.00 to $166.00 and set an "overweight" rating for the company in a research note on Monday, April 6th. Stifel Nicolaus set a $115.00 price objective on Shopify and gave the stock a "hold" rating in a research report on Wednesday, February 11th. UBS Group reduced their price objective on Shopify from $165.00 to $145.00 and set a "neutral" rating for the company in a research report on Thursday, February 12th. Scotiabank upgraded Shopify from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $165.00 to $200.00 in a research report on Thursday, January 8th. Finally, Citizens Jmp reduced their price objective on Shopify from $200.00 to $160.00 and set a "market outperform" rating for the company in a research report on Thursday, February 12th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $162.70.

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.

Want to see what other hedge funds are holding SHOP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.