Sei Investments Co. Purchases 87,352 Shares of Shopify Inc. $SHOP

Key Points

• Sei Investments increased its stake in Shopify by 3.4%, buying 87,352 shares in Q3 to hold 2,674,370 shares worth about $397.4 million (0.21% of the company).
• Analysts maintain a consensus rating of "Moderate Buy" with a consensus price target of $163.38, based on 2 Strong Buy, 32 Buy and 10 Hold ratings and broker targets ranging roughly $130–$180.
• Shopify shares opened at $126.17 on Friday, trade within a 52‑week range of $69.84–$182.19, and the company has a market cap of about $164.25 billion (P/E ~135.7).

Sei Investments Co. lifted its position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 3.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,674,370 shares of the software maker's stock after purchasing an additional 87,352 shares during the quarter. Sei Investments Co. owned 0.21% of Shopify worth $397,437,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Shopify by 3.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,588,934 shares of the software maker's stock worth $978,679,000 after buying an additional 213,315 shares during the last quarter. Atika Capital Management LLC lifted its stake in shares of Shopify by 13.1% in the third quarter. Atika Capital Management LLC now owns 78,500 shares of the software maker's stock valued at $11,666,000 after buying an additional 9,100 shares in the last quarter. Gordian Capital Singapore Pte Ltd grew its holdings in shares of Shopify by 1,250.0% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 810 shares of the software maker's stock valued at $120,000 after buying an additional 750 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. grew its holdings in shares of Shopify by 3.3% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 78,794 shares of the software maker's stock valued at $11,709,000 after buying an additional 2,487 shares during the last quarter. Finally, Capital International Inc. CA increased its position in shares of Shopify by 1.5% during the third quarter. Capital International Inc. CA now owns 628,099 shares of the software maker's stock worth $93,342,000 after acquiring an additional 9,158 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on SHOP. KeyCorp reaffirmed an "overweight" rating and issued a $160.00 price target on shares of Shopify in a research report on Wednesday, February 11th. Needham & Company LLC reissued a "buy" rating and set a $180.00 price objective on shares of Shopify in a report on Thursday, February 12th. Citizens Jmp lowered their price objective on Shopify from $200.00 to $160.00 and set a "market outperform" rating for the company in a research note on Thursday, February 12th. Phillip Securities upgraded Shopify from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. Finally, Barclays set a $130.00 target price on Shopify and gave the company an "equal weight" rating in a research report on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Shopify presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.38.

Shopify Stock Performance

Shopify stock opened at $126.17 on Friday. Shopify Inc. has a fifty-two week low of $69.84 and a fifty-two week high of $182.19. The firm's 50-day simple moving average is $134.60 and its 200 day simple moving average is $148.74. The stock has a market cap of $164.25 billion, a PE ratio of 135.67, a price-to-earnings-growth ratio of 4.65 and a beta of 2.83.

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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