Metis Global Partners LLC Raises Stake in Shopify Inc. $SHOP

Metis Global Partners LLC increased its position in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,458 shares of the software maker’s stock after buying an additional 4,892 shares during the period. Metis Global Partners LLC’s holdings in Shopify were worth $6,281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHOP. Vanguard Group Inc. boosted its holdings in shares of Shopify by 1.9% during the first quarter. Vanguard Group Inc. now owns 47,962,280 shares of the software maker’s stock worth $4,563,106,000 after purchasing an additional 882,168 shares during the last quarter. Jennison Associates LLC lifted its position in Shopify by 118.1% during the second quarter. Jennison Associates LLC now owns 11,519,610 shares of the software maker’s stock worth $1,328,787,000 after buying an additional 6,238,829 shares during the period. Mackenzie Financial Corp grew its holdings in Shopify by 19.7% in the 1st quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock valued at $822,745,000 after buying an additional 1,426,406 shares during the period. Nuveen LLC acquired a new position in shares of Shopify during the 1st quarter valued at about $667,392,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of Shopify by 34.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,943,409 shares of the software maker’s stock valued at $565,504,000 after acquiring an additional 1,522,573 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SHOP shares. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 price target on shares of Shopify in a research report on Wednesday. Evercore ISI increased their target price on Shopify from $120.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. JMP Securities upped their price target on Shopify from $135.00 to $185.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. Arete restated a “neutral” rating on shares of Shopify in a report on Wednesday, July 23rd. Finally, Truist Financial set a $155.00 price objective on Shopify and gave the company a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and twenty-three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $163.89.

Shopify Stock Down 2.3%

Shares of NASDAQ:SHOP opened at $152.41 on Friday. The company has a market capitalization of $198.08 billion, a price-to-earnings ratio of 112.90, a price-to-earnings-growth ratio of 5.85 and a beta of 2.73. The company has a 50 day moving average of $155.59 and a two-hundred day moving average of $129.97. Shopify Inc. has a 52-week low of $69.84 and a 52-week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. Shopify has set its Q4 2025 guidance at EPS. On average, equities analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.