Third View Private Wealth LLC Makes New Investment in Shopify Inc. $SHOP

Key Points

• Third View Private Wealth bought a new position of 65,871 Shopify shares worth about $10.6 million, representing roughly 1.4% of its portfolio and making Shopify its 16th largest holding.
• Institutional investors and hedge funds own about 69.27% of Shopify, with several firms (including AQR Capital, Brighton Jones and others) recently increasing or initiating stakes, indicating ongoing institutional interest.
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $162.70, but recent notes are mixed (e.g., UBS cut its target to $145 while RBC and Citigroup remain bullish); Shopify was trading near $114.97 and has a 52-week range of $80.35–$182.19.

Third View Private Wealth LLC bought a new position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 65,871 shares of the software maker's stock, valued at approximately $10,603,000. Shopify comprises about 1.4% of Third View Private Wealth LLC's investment portfolio, making the stock its 16th largest holding.

Several other hedge funds also recently bought and sold shares of SHOP. Brighton Jones LLC increased its position in Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock worth $2,252,000 after purchasing an additional 584 shares during the last quarter. AQR Capital Management LLC increased its position in Shopify by 107.3% in the 1st quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker's stock worth $1,392,000 after purchasing an additional 7,544 shares during the last quarter. Sivia Capital Partners LLC increased its position in Shopify by 6.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker's stock worth $945,000 after purchasing an additional 506 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in Shopify in the 2nd quarter worth about $53,000. Finally, Main Street Financial Solutions LLC increased its position in Shopify by 15.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker's stock worth $1,284,000 after purchasing an additional 1,479 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SHOP. UBS Group dropped their target price on Shopify from $165.00 to $145.00 and set a "neutral" rating on the stock in a research report on Thursday, February 12th. Piper Sandler initiated coverage on Shopify in a report on Thursday, March 12th. They set an "overweight" rating and a $165.00 price objective on the stock. TD Cowen raised Shopify from a "hold" rating to a "buy" rating and set a $159.00 price objective on the stock in a report on Wednesday, February 11th. Royal Bank Of Canada set a $170.00 price objective on Shopify and gave the company an "outperform" rating in a report on Thursday, February 12th. Finally, Citigroup reissued a "buy" rating and set a $172.00 price objective (down from $195.00) on shares of Shopify in a report on Friday, February 13th. Three 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $162.70.

Shopify Stock Performance

Shares of NASDAQ SHOP opened at $114.97 on Tuesday. The firm has a market cap of $149.93 billion, a price-to-earnings ratio of 123.62, a P/E/G ratio of 3.93 and a beta of 2.82. The business's 50-day simple moving average is $120.01 and its 200-day simple moving average is $144.62. Shopify Inc. has a 52 week low of $80.35 and a 52 week high of $182.19.

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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