Sanctuary Advisors LLC Decreases Position in Shopify Inc. $SHOP

Key Points

• Sanctuary Advisors LLC cut its Shopify stake by 11.3% in the first quarter, selling 18,851 shares and ending with 147,911 shares valued at about $17.5 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 69.27% of Shopify’s stock, and several funds recently adding new positions.
• Wall Street sentiment is broadly positive: analysts such as Bank of America, Oppenheimer, and Stifel have issued buy-style ratings, with a consensus target price of $157.58 despite a recent 1.7% share decline.

Sanctuary Advisors LLC decreased its position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 11.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 147,911 shares of the software maker's stock after selling 18,851 shares during the period. Sanctuary Advisors LLC's holdings in Shopify were worth $17,545,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Kingdom Financial Group LLC. purchased a new stake in shares of Shopify in the fourth quarter valued at about $26,000. Curio Wealth LLC acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $27,000. Evolution Wealth Management Inc. increased its stake in shares of Shopify by 203.9% during the 1st quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker's stock worth $27,000 after purchasing an additional 155 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Shopify during the 4th quarter worth approximately $29,000. Finally, Lodestone Wealth Management LLC acquired a new position in shares of Shopify during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Stock Down 1.7%

Shares of NASDAQ:SHOP opened at $123.55 on Thursday. The company has a market cap of $160.33 billion, a P/E ratio of 122.33, a P/E/G ratio of 2.73 and a beta of 2.58. The business has a fifty day simple moving average of $111.93 and a 200-day simple moving average of $123.98. Shopify Inc. has a 52 week low of $94.00 and a 52 week high of $182.19.

Wall Street Analyst Weigh In

SHOP has been the topic of a number of recent research reports. Bank of America initiated coverage on Shopify in a research note on Tuesday, July 7th. They issued a "buy" rating and a $150.00 target price on the stock. Oppenheimer reissued an "outperform" rating and issued a $175.00 price target on shares of Shopify in a report on Wednesday, May 6th. Stifel Nicolaus set a $150.00 price objective on Shopify and gave the company a "buy" rating in a research report on Thursday, July 9th. Susquehanna started coverage on Shopify in a research note on Friday, July 10th. They set a "neutral" rating on the stock. Finally, Morgan Stanley cut Shopify from an "overweight" rating to a "buy" rating in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $157.58.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Several brokerages turned more constructive on Shopify, including Jefferies, Stifel and Bank of America, with upgrades and higher price targets pointing to renewed confidence in earnings potential and longer-term growth. Why Wall Street Is Suddenly Rushing Back Into Beaten-Down Shopify (SHOP) Stock
• Positive Sentiment: Shopify also received a Zacks Rank #1 (Strong Buy), reinforcing the bullish view that earnings expectations may improve. Shopify (SHOP) Upgraded to Strong Buy: What Does It Mean for the Stock?
• Positive Sentiment: DoorDash announced a native Shopify integration that lets independent merchants add on-demand delivery more quickly, which could make Shopify’s platform more attractive to small retailers and support merchant engagement. DoorDash teams with Shopify on delivery for small retailers
• Neutral Sentiment: Fintech and e-commerce commentary continued to spotlight Shopify’s payments infrastructure and platform ecosystem, but these pieces were mostly broad business coverage rather than a direct catalyst. Shopify: Redefining Payments Infrastructure for Merchants
• Negative Sentiment: The latest trading session showed Shopify falling even as the broader market rose, reflecting ongoing investor caution after a sizable year-to-date decline and concerns about slower growth and AI-related costs. Shopify (SHOP) Stock Falls Amid Market Uptick: What Investors Need to Know
• Negative Sentiment: A separate article about fake Shopify stores being used in an alleged scam could add negative headlines around the brand, though it appears unrelated to Shopify’s core business. NFL Players Targeted in E-Commerce Scheme Using Fake Shopify Stores

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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