Swiss National Bank Sells 190,400 Shares of Shopify Inc. $SHOP

Key Points

• Swiss National Bank cut its stake in Shopify by 5.1%, selling 190,400 shares in Q3 and now holds 3,510,500 shares valued at about $521,768,000.
• Analysts maintain a consensus rating of "Moderate Buy" with a mean price target of $162.64, and several firms recently raised targets (e.g., Bank of America to $190, Needham $180).
• Shopify shares opened at $130.20 and were down 3.4%; the stock has a 12‑month range of $69.84–$182.19, a market cap of $169.5 billion and a P/E of 140.00.

Swiss National Bank cut its stake in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,510,500 shares of the software maker's stock after selling 190,400 shares during the period. Swiss National Bank owned 0.27% of Shopify worth $521,768,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Heartwood Wealth Advisors LLC bought a new position in shares of Shopify during the third quarter worth approximately $27,000. Rothschild Investment LLC boosted its stake in Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker's stock valued at $27,000 after purchasing an additional 75 shares during the period. Financial Gravity Companies Inc. bought a new stake in Shopify in the 2nd quarter valued at $27,000. Caitlin John LLC acquired a new position in Shopify in the 3rd quarter valued at $36,000. Finally, Estabrook Capital Management bought a new position in Shopify during the 2nd quarter worth $29,000. Institutional investors own 69.27% of the company's stock.

Analysts Set New Price Targets

SHOP has been the subject of a number of recent research reports. Needham & Company LLC reissued a "buy" rating and issued a $180.00 target price on shares of Shopify in a research report on Thursday, February 12th. Bank of America raised their price target on shares of Shopify from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Wednesday, December 17th. Oppenheimer reiterated an "outperform" rating on shares of Shopify in a research note on Monday, December 1st. Evercore set a $135.00 price objective on shares of Shopify in a report on Wednesday, February 11th. Finally, Phillip Securities raised shares of Shopify from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. Two research 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. Based on data from MarketBeat.com, Shopify currently has a consensus rating of "Moderate Buy" and a consensus price target of $162.64.

Shopify Stock Down 3.4%

Shares of Shopify stock opened at $130.20 on Monday. Shopify Inc. has a 12-month low of $69.84 and a 12-month high of $182.19. The company has a market capitalization of $169.50 billion, a price-to-earnings ratio of 140.00, a PEG ratio of 4.67 and a beta of 2.83. The firm's 50-day moving average price is $137.30 and its two-hundred day moving average price is $149.14.

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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