Schroder Investment Management Group Increases Stock Position in Shopify Inc. $SHOP

Key Points

• Schroder Investment Management Group boosted its stake in Shopify by 333.2% in Q3, adding 266,100 shares to hold 345,966 shares worth about $51.55 million.
• Other large institutions also piled in—Norges Bank initiated a roughly $1.79 billion stake and Jennison Associates now owns 18.9 million shares (~$2.81 billion)—leaving institutional ownership at about 69.27%.
• Shopify shares opened at $129.36 (down 3.1%), with a market cap of $168.41 billion and a 12‑month range of $69.84–$182.19; analysts show a consensus "Moderate Buy" and an average price target of $163.33.

Schroder Investment Management Group increased its position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 333.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 345,966 shares of the software maker's stock after purchasing an additional 266,100 shares during the quarter. Schroder Investment Management Group's holdings in Shopify were worth $51,549,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Shopify in the second quarter worth about $1,794,952,000. Jennison Associates LLC increased its stake in shares of Shopify by 64.3% during the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker's stock worth $2,812,211,000 after purchasing an additional 7,403,821 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Shopify by 5,193.6% during the 2nd quarter. Brown Advisory Inc. now owns 2,066,884 shares of the software maker's stock worth $238,419,000 after purchasing an additional 2,027,839 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Shopify by 19.9% in the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker's stock worth $1,247,007,000 after purchasing an additional 1,781,530 shares during the period. Finally, Picton Mahoney Asset Management raised its holdings in shares of Shopify by 246,359.0% in the 2nd quarter. Picton Mahoney Asset Management now owns 1,759,717 shares of the software maker's stock worth $202,146,000 after purchasing an additional 1,759,003 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Stock Down 3.1%

SHOP stock opened at $129.36 on Wednesday. The stock has a 50-day simple moving average of $135.92 and a two-hundred day simple moving average of $149.03. Shopify Inc. has a twelve month low of $69.84 and a twelve month high of $182.19. The firm has a market capitalization of $168.41 billion, a PE ratio of 139.10, a PEG ratio of 4.79 and a beta of 2.83.

Analysts Set New Price Targets

Several equities analysts have weighed in on SHOP shares. BNP Paribas Exane initiated coverage on Shopify in a report on Monday, November 24th. They set a "neutral" rating for the company. TD Securities raised Shopify from a "hold" rating to a "buy" rating and set a $159.00 price target on the stock in a research report on Thursday, February 12th. Oppenheimer reiterated an "outperform" rating on shares of Shopify in a research note on Monday, December 1st. DZ Bank raised Shopify from a "hold" rating to a "strong-buy" rating in a report on Monday, February 16th. Finally, ATB Cormark Capital Markets upgraded Shopify from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Shopify currently has a consensus rating of "Moderate Buy" and an average price target of $163.33.

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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