Shopify Target of Unusually Large Options Trading (NASDAQ:SHOP)

Key Points

• Shopify saw unusually large options activity on Monday, with traders buying 100,589 call options — about 97% above its typical daily volume.
• Recent analyst coverage has been mixed but generally positive, with the stock carrying an average “Moderate Buy” rating and a consensus price target of $157.58.
• Shopify shares rose 3.7% to $128.10 on Monday, while institutional investors continue to hold a sizable stake in the company at 69.27%.

Shopify Inc. (NASDAQ:SHOP - Get Free Report) TSE: SHOP saw some unusual options trading on Monday. Traders acquired 100,589 call options on the company. This is an increase of approximately 97% compared to the typical daily volume of 50,948 call options.

Analyst Ratings Changes

SHOP has been the topic of several research reports. UBS Group reissued a "neutral" rating on shares of Shopify in a research report on Thursday, May 28th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Shopify in a research note on Monday. Stifel Nicolaus set a $150.00 price objective on shares of Shopify and gave the stock a "buy" rating in a report on Thursday, July 9th. Susquehanna began coverage on shares of Shopify in a research report on Friday, July 10th. They set a "neutral" rating for the company. Finally, BTIG Research initiated coverage on shares of Shopify in a report on Friday, July 10th. They set a "buy" rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $157.58.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Kingdom Financial Group LLC. bought a new stake in Shopify during the fourth quarter valued at about $26,000. Curio Wealth LLC bought a new position in Shopify in the 4th quarter worth approximately $27,000. Evolution Wealth Management Inc. grew its stake in Shopify by 203.9% during the first quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker's stock valued at $27,000 after acquiring an additional 155 shares in the last quarter. Graney & King LLC bought a new stake in shares of Shopify in the first quarter worth about $27,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shopify in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 69.27% of the company's stock.

Shopify Trading Up 3.7%

NASDAQ SHOP traded up $4.54 on Monday, reaching $128.10. 4,337,656 shares of the stock were exchanged, compared to its average volume of 10,610,411. Shopify has a one year low of $94.00 and a one year high of $182.19. The firm has a market capitalization of $166.23 billion, a PE ratio of 126.83, a PEG ratio of 2.68 and a beta of 2.58. The company's 50-day simple moving average is $112.47 and its two-hundred day simple moving average is $123.35.

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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